PulteGroup (NYSE:PHM) Upgraded at StockNews.com

StockNews.com upgraded shares of PulteGroup (NYSE:PHM) from a hold rating to a buy rating in a research report report published on Wednesday.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada increased their target price on PulteGroup from $106.00 to $113.00 and gave the stock a sector perform rating in a report on Wednesday. Raymond James raised their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the company an outperform rating in a research report on Monday, February 5th. Zelman & Associates raised shares of PulteGroup from a neutral rating to an outperform rating in a report on Wednesday. Wedbush restated a neutral rating and issued a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Finally, Citigroup boosted their target price on PulteGroup from $116.00 to $127.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $111.73.

PulteGroup Price Performance

NYSE:PHM opened at $113.80 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market cap of $23.94 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. PulteGroup has a 12 month low of $64.70 and a 12 month high of $121.07. The company’s 50-day moving average price is $111.28 and its two-hundred day moving average price is $99.59.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. PulteGroup’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.63 EPS. On average, equities analysts anticipate that PulteGroup will post 12.28 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s payout ratio is currently 6.41%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of PulteGroup by 4.0% during the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of PulteGroup by 24.9% in the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after buying an additional 5,257 shares during the period. American Century Companies Inc. increased its position in shares of PulteGroup by 65.0% during the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after acquiring an additional 88,638 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of PulteGroup during the fourth quarter worth $6,111,000. Finally, Louisiana State Employees Retirement System bought a new stake in PulteGroup in the 4th quarter valued at $1,342,000. 89.90% of the stock is currently owned by institutional investors.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.