Several other analysts have also recently issued reports on PHM. Buckingham Research cut shares of PulteGroup from a buy rating to a neutral rating and increased their target price for the stock from $31.00 to $33.00 in a research note on Sunday, November 26th. Zacks Investment Research cut shares of PulteGroup from a hold rating to a sell rating in a research note 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 research note on Friday, December 29th. ValuEngine upgraded shares of PulteGroup from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Finally, B. Riley cut shares of PulteGroup from a buy rating to a neutral rating and increased their target price for the stock from $31.00 to $36.00 in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $33.92.
Shares of PulteGroup (NYSE PHM) traded up $0.33 during mid-day trading on Thursday, hitting $29.30. 1,761,528 shares of the company were exchanged, compared to its average volume of 5,053,862. The stock has a market cap of $8,465.04, a PE ratio of 20.12, a P/E/G ratio of 0.46 and a beta of 1.12. PulteGroup has a 12 month low of $21.41 and a 12 month high of $35.21.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.85. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company posted $0.67 EPS. PulteGroup’s revenue was up 12.1% compared to the same quarter last year. equities research analysts forecast that PulteGroup will post 3.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s payout ratio is 25.00%.
PulteGroup declared that its Board of Directors has approved a share buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Patrick J. Oleary sold 8,677 shares of the 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 transaction, the director now owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in PHM. Glenmede Trust Co. NA grew its holdings 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 stake in PulteGroup in the 4th quarter worth $44,346,000. Janus Henderson Group PLC grew its holdings in PulteGroup by 747.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock worth $36,159,000 after acquiring an additional 1,166,885 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in PulteGroup by 2,015.5% in 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 acquiring an additional 996,747 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in PulteGroup in the 4th quarter worth $32,668,000. 85.54% of the stock is currently owned by institutional investors.
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PulteGroup Company Profile
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.
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