PulteGroup, Inc. (NYSE:PHM) Receives $140.71 Average Price Target from Analysts

PulteGroup, Inc. (NYSE:PHMGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $140.7143.

Several research firms have recently commented on PHM. Truist Financial lowered their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Bank of America reduced their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. UBS Group lifted their price target on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Finally, Barclays reduced their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th.

View Our Latest Analysis on PulteGroup

Insider Activity at PulteGroup

In related news, COO Matthew William Koart sold 7,457 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares of the company’s stock, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. This represents a 48.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC raised its position in PulteGroup by 18.3% during the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after acquiring an additional 75 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after purchasing an additional 78 shares during the period. Stephens Inc. AR increased its holdings in shares of PulteGroup by 3.5% during the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after purchasing an additional 80 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of PulteGroup by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after purchasing an additional 92 shares during the period. Finally, Opal Wealth Advisors LLC lifted its stake in shares of PulteGroup by 4.8% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 4.4%

Shares of NYSE:PHM opened at $122.86 on Wednesday. PulteGroup has a 1 year low of $98.27 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $23.40 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.49 and a beta of 1.20. The business’s 50-day moving average is $119.26 and its 200 day moving average is $124.13.

PulteGroup (NYSE:PHMGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.01). The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. On average, research analysts predict that PulteGroup will post 10 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a share repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is currently 10.06%.

About PulteGroup

(Get Free Report)

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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