Shares of PulteGroup, Inc. (NYSE:PHM – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $140.7143.
Several research firms have commented on PHM. Wells Fargo & Company increased their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Tuesday, May 26th. Evercore upped their price target on PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Barclays lowered their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Weiss Ratings downgraded PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, April 27th.
View Our Latest Report on PulteGroup
PulteGroup Stock Performance
PulteGroup (NYSE:PHM – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup will post 9.95 EPS for the current fiscal year.
PulteGroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
PulteGroup Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 16th. PulteGroup’s dividend payout ratio (DPR) is 10.06%.
Insider Buying and Selling
In other news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director owned 3,540 shares of the company’s stock, valued at $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.75% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its position in shares of PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. NFSG Corp bought a new position in shares of PulteGroup in the first quarter worth about $29,000. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup during the 4th quarter worth about $31,000. DV Equities LLC acquired a new position in shares of PulteGroup during the 4th quarter worth about $32,000. Finally, HHM Wealth Advisors LLC boosted its stake in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Institutional investors own 89.90% of the company’s stock.
About PulteGroup
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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