Citigroup upgraded shares of PulteGroup (NYSE:PHM) from a sell rating to a neutral rating in a report issued on Tuesday morning, MarketBeat Ratings reports.
A number of other analysts have also recently issued reports on PHM. JPMorgan Chase & Co. increased their price objective on PulteGroup from $39.00 to $40.00 and gave the stock an overweight rating in a report on Thursday, April 26th. Credit Suisse Group set a $35.00 price objective on PulteGroup and gave the stock a buy rating in a report on Tuesday, April 24th. ValuEngine cut PulteGroup from a buy rating to a hold rating in a report on Wednesday, May 16th. Buckingham Research raised PulteGroup from a neutral rating to a buy rating and set a $40.00 price objective on the stock in a report on Wednesday, April 25th. Finally, Royal Bank of Canada set a $36.00 price objective on PulteGroup and gave the stock a buy rating in a report on Wednesday, April 25th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $35.21.
Shares of PHM opened at $29.17 on Tuesday. The stock has a market cap of $8.39 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.49 and a beta of 1.02. PulteGroup has a 52-week low of $23.81 and a 52-week high of $35.21.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.84 billion. PulteGroup had a return on equity of 17.48% and a net margin of 5.91%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. analysts expect that PulteGroup will post 3.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Thursday, June 7th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. PulteGroup’s dividend payout ratio is currently 16.44%.
In other news, Director Andre J. Hawaux acquired 3,100 shares of PulteGroup stock in a transaction dated Friday, May 11th. The shares were purchased at an average cost of $31.31 per share, for a total transaction of $97,061.00. Following the transaction, the director now owns 48,548 shares of the company’s stock, valued at $1,520,037.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cheryl W. Grise sold 14,000 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $30.74, for a total value of $430,360.00. Following the transaction, the director now owns 15,200 shares in the company, valued at $467,248. The disclosure for this sale can be found here. Insiders sold a total of 66,761 shares of company stock worth $2,086,972 over the last 90 days. Corporate insiders own 0.86% of the company’s stock.
Several institutional investors have recently made changes to their positions in PHM. Millennium Management LLC increased its position in shares of PulteGroup by 2,993.9% during the 1st quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock valued at $178,688,000 after purchasing an additional 5,863,443 shares during the last quarter. Boston Partners bought a new position in shares of PulteGroup during the 1st quarter valued at about $109,951,000. Glenmede Trust Co. NA increased its position in shares of PulteGroup by 7,557.2% during the 4th quarter. Glenmede Trust Co. NA now owns 1,429,833 shares of the construction company’s stock valued at $47,541,000 after purchasing an additional 1,411,160 shares during the last quarter. Element Capital Management LLC bought a new position in shares of PulteGroup during the 4th quarter valued at about $44,346,000. Finally, AXA bought a new position in shares of PulteGroup during the 4th quarter valued at about $30,608,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.
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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