UBS Group Increases PulteGroup (PHM) Price Target to $41.00

PulteGroup (NYSE:PHM) had its price target raised by UBS Group from $38.00 to $41.00 in a research report sent to investors on Wednesday, 99wallstreet.com reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on PHM. B. Riley reissued a buy rating on shares of PulteGroup in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of PulteGroup from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Bank of America set a $34.00 price objective on shares of PulteGroup and gave the stock a buy rating in a research note on Wednesday, October 25th. ValuEngine raised shares of PulteGroup from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Finally, Wedbush reissued a neutral rating and set a $22.00 price objective (down from $27.00) on shares of PulteGroup in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. PulteGroup currently has an average rating of Buy and an average target price of $32.15.

Shares of PulteGroup (PHM) traded up $0.45 during trading on Wednesday, reaching $34.60. 3,242,409 shares of the company’s stock were exchanged, compared to its average volume of 3,005,190. PulteGroup has a 12 month low of $18.88 and a 12 month high of $35.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $10,171.29, a PE ratio of 17.21, a PEG ratio of 0.56 and a beta of 1.22.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th were issued a $0.09 dividend. The ex-dividend date was Monday, December 11th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. PulteGroup’s dividend payout ratio (DPR) is presently 17.91%.

In other PulteGroup 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 value of $4,066,286.40. Following the transaction, the insider now owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 92,800 shares of PulteGroup stock in a transaction on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the completion of the transaction, the chief financial officer now owns 363,722 shares in the company, valued at approximately $12,326,538.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,202 shares of company stock worth $9,394,580. 0.71% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in shares of PulteGroup by 3.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after purchasing an additional 148 shares during the last quarter. Invictus RG boosted its holdings in shares of PulteGroup by 1,473.4% in the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock valued at $117,000 after purchasing an additional 3,993 shares during the last quarter. National Pension Service acquired a new position in shares of PulteGroup in the 4th quarter valued at $138,000. Fieldpoint Private Securities LLC acquired a new position in shares of PulteGroup in the 3rd quarter valued at $150,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of PulteGroup by 7.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock valued at $168,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/21/ubs-group-increases-pultegroup-phm-price-target-to-41-00.html.

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)

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply