Bank of America Corporation restated their buy rating on shares of PulteGroup, Inc. (NYSE:PHM) in a research report released on Tuesday, June 27th. The brokerage currently has a $30.00 price objective on the construction company’s stock, up from their previous price objective of $29.00.
Several other equities analysts also recently commented on the stock. Barclays PLC restated an overweight rating and issued a $24.00 price target (up previously from $23.00) on shares of PulteGroup in a research note on Tuesday, March 7th. Zacks Investment Research cut shares of PulteGroup from a buy rating to a hold rating in a research report on Monday, April 24th. Wedbush reaffirmed an underperform rating and set a $15.00 price objective on shares of PulteGroup in a research report on Tuesday, April 25th. Mizuho assumed coverage on shares of PulteGroup in a research report on Tuesday, May 16th. They issued a neutral rating and a $22.00 price target for the company. Finally, BidaskClub raised shares of PulteGroup from a buy rating to a strong-buy rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $24.83.
Shares of PulteGroup (NYSE:PHM) opened at 24.36 on Tuesday. The company’s 50-day moving average price is $23.49 and its 200-day moving average price is $22.07. PulteGroup has a one year low of $17.69 and a one year high of $25.20. The stock has a market cap of $7.69 billion, a PE ratio of 13.45 and a beta of 1.14.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 25th. The construction company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. PulteGroup had a net margin of 7.77% and a return on equity of 12.74%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts anticipate that PulteGroup will post $2.21 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, June 6th. PulteGroup’s dividend payout ratio is currently 19.78%.
In other news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the transaction, the director now directly owns 108,744 shares in the company, valued at approximately $2,520,685.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PHM. BlackRock Inc. boosted its position in PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after buying an additional 22,259,277 shares during the last quarter. Renaissance Technologies LLC bought a new position in PulteGroup during the first quarter valued at approximately $92,466,000. Norges Bank acquired a new position in shares of PulteGroup during the fourth quarter valued at about $61,761,000. Wedge Capital Management L L P NC acquired a new position in shares of PulteGroup during the first quarter valued at about $59,083,000. Finally, Boston Advisors LLC acquired a new position in shares of PulteGroup during the first quarter valued at about $17,839,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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