PulteGroup (PHM) Downgraded to Neutral at B. Riley

B. Riley cut shares of PulteGroup (NYSE:PHM) from a buy rating to a neutral rating in a report released on Wednesday, Marketbeat reports. The firm currently has $36.00 price target on the construction company’s stock, up from their previous price target of $31.00. B. Riley also issued estimates for PulteGroup’s FY2018 earnings at $3.03 EPS.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of PulteGroup from a buy rating to a hold rating in a report on Monday, October 30th. Barclays set a $26.00 price objective on shares of PulteGroup and gave the company a hold rating in a report on Wednesday, October 25th. Bank of America set a $34.00 price objective on shares of PulteGroup and gave the company a buy rating in a report on Wednesday, October 25th. FBR & Co restated a buy rating and set a $31.00 price target (up previously from $28.00) on shares of PulteGroup in a report on Wednesday, October 25th. Finally, Royal Bank of Canada increased their price objective on shares of PulteGroup from $28.00 to $33.00 and gave the stock an outperform rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. PulteGroup has an average rating of Hold and an average price target of $31.38.

PulteGroup (NYSE:PHM) traded up $0.71 during mid-day trading on Wednesday, reaching $34.54. 5,040,000 shares of the company’s stock were exchanged, compared to its average volume of 4,330,000. The firm has a market cap of $10,150.00, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 0.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.25 and a current ratio of 0.25. PulteGroup has a 12 month low of $18.24 and a 12 month high of $34.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. PulteGroup’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. analysts anticipate that PulteGroup will post 2.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, December 11th. This represents a $0.36 annualized dividend and a yield of 1.04%. PulteGroup’s dividend payout ratio is presently 17.65%.

In other news, insider James R. Ellinghausen sold 136,912 shares of PulteGroup stock in a transaction on Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the completion of the sale, the insider now directly owns 294,369 shares of the company’s stock, valued at approximately $8,742,759.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James R. Ellinghausen sold 67,490 shares of PulteGroup stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The disclosure for this sale can be found here. Insiders sold a total of 297,202 shares of company stock valued at $9,394,580 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PHM. Fiera Capital Corp purchased a new stake in shares of PulteGroup during the 2nd quarter worth $45,333,000. LSV Asset Management lifted its position in shares of PulteGroup by 150.9% during the 2nd quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock worth $49,779,000 after purchasing an additional 1,220,579 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of PulteGroup by 747.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock worth $36,159,000 after purchasing an additional 1,166,885 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of PulteGroup by 2,015.5% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,046,201 shares of the construction company’s stock worth $28,591,000 after purchasing an additional 996,747 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of PulteGroup by 146.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock worth $38,419,000 after purchasing an additional 931,971 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

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About PulteGroup

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.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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