Mizuho reaffirmed their buy rating on shares of PulteGroup (NYSE:PHM) in a report published on Thursday, March 15th. The firm currently has a $36.00 price objective on the construction company’s stock.
Other research analysts have also recently issued reports about the stock. Buckingham Research cut shares of PulteGroup from a buy rating to a neutral rating and upped their price target for the stock from $31.00 to $33.00 in a report on Sunday, November 26th. Zacks Investment Research cut shares of PulteGroup from a hold rating to a sell rating in a report on Wednesday, December 27th. Wedbush increased their target price on shares of PulteGroup from $27.00 to $35.00 and gave the stock a neutral rating in a report on Friday, December 29th. ValuEngine upgraded shares of PulteGroup from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, B. Riley lowered shares of PulteGroup from a buy rating to a neutral rating and increased their price target for the company from $31.00 to $36.00 in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $34.15.
PHM opened at $30.03 on Thursday. PulteGroup has a 1-year low of $21.41 and a 1-year high of $35.21. The company has a market capitalization of $8,737.18, a price-to-earnings ratio of 13.71, a PEG ratio of 0.48 and a beta of 1.04.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. sell-side analysts anticipate that PulteGroup will post 3.11 EPS for the current year.
PulteGroup announced that its board has initiated a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. PulteGroup’s dividend payout ratio is currently 16.44%.
In related news, Director Patrick J. Oleary sold 8,677 shares of PulteGroup stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total value of $260,570.31. Following the sale, the director now owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. LMR Partners LLP acquired a new stake in PulteGroup during the 4th quarter worth $1,597,000. Capital Bank & Trust Co boosted its stake in PulteGroup by 424.5% during the 3rd quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock worth $3,303,000 after purchasing an additional 97,818 shares during the last quarter. BlackRock Inc. boosted its stake in PulteGroup by 3.0% during the 4th quarter. BlackRock Inc. now owns 22,912,891 shares of the construction company’s stock worth $761,852,000 after purchasing an additional 658,662 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PulteGroup by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock worth $2,196,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in PulteGroup during the 4th quarter worth $304,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
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PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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