PulteGroup (NYSE:PHM) Research Coverage Started at Melius Research

Melius Research initiated coverage on shares of PulteGroup (NYSE:PHM) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $132.00 price objective on the construction company’s stock.

PHM has been the topic of several other reports. Morgan Stanley assumed coverage on PulteGroup in a research report on Thursday, October 1st. They issued an “equal weight” rating and a $128.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Truist Financial decreased their price target on PulteGroup from $145.00 to $136.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Royal Bank Of Canada raised their price target on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.17.

PulteGroup Trading Up 1.2%

PulteGroup stock opened at $113.70 on Tuesday. PulteGroup has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $21.31 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.39 and a beta of 1.16. The firm has a 50-day moving average price of $123.54 and a two-hundred day moving average price of $123.01.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. PulteGroup’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.03 earnings per share. Sell-side analysts expect that PulteGroup will post 10.08 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. PulteGroup’s dividend payout ratio (DPR) is presently 10.62%.

Institutional Trading of PulteGroup

Hedge funds and other institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC raised its position in PulteGroup by 1.1% during the second quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock valued at $1,012,000 after buying an additional 79 shares during the period. Apollon Wealth Management LLC lifted its stake in PulteGroup by 3.8% in the 1st quarter. Apollon Wealth Management LLC now owns 3,343 shares of the construction company’s stock worth $393,000 after acquiring an additional 121 shares in the last quarter. Rooted Wealth Advisors Inc. boosted its position in PulteGroup by 4.3% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 3,006 shares of the construction company’s stock worth $383,000 after acquiring an additional 123 shares during the period. Oddo BHF Asset Management Sas grew its stake in PulteGroup by 1.1% during the 1st quarter. Oddo BHF Asset Management Sas now owns 11,516 shares of the construction company’s stock valued at $1,354,000 after acquiring an additional 124 shares in the last quarter. Finally, Diversified Trust Co grew its stake in PulteGroup by 5.7% during the 1st quarter. Diversified Trust Co now owns 2,513 shares of the construction company’s stock valued at $296,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.