UBS Group Raises PulteGroup (NYSE:PHM) Price Target to $151.00

PulteGroup (NYSE:PHM) had its target price hoisted by UBS Group from $148.00 to $151.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research firms have also weighed in on PHM. JPMorgan Chase & Co. dropped their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. BTIG Research boosted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays dropped their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

PulteGroup stock opened at $113.73 on Friday. PulteGroup has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The firm’s 50 day simple moving average is $118.03 and its 200-day simple moving average is $127.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $23.32 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. As a group, equities research analysts predict that PulteGroup will post 13.06 EPS for the current year.

PulteGroup declared that its Board of Directors has authorized a share buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is 6.49%.

Institutional Investors Weigh In On PulteGroup

A number of large investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its position in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC bought a new position in PulteGroup in the 3rd quarter worth $29,000. Hager Investment Management Services LLC acquired a new position in PulteGroup during the 4th quarter worth $29,000. R Squared Ltd bought a new stake in PulteGroup during the fourth quarter valued at about $39,000. Finally, JNBA Financial Advisors bought a new stake in PulteGroup during the third quarter valued at about $43,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.