PulteGroup, Inc. (NYSE:PHM) Stock Has Average Price Target of $137.24

Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $137.24.

PHM has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price target on shares of PulteGroup from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Friday, October 23rd. Truist Financial reduced their target price on shares of PulteGroup from $145.00 to $136.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Finally, Piper Sandler downgraded shares of PulteGroup to a “hold” rating and set a $145.00 price target on the stock. in a report on Thursday, October 8th.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $124.80 on Friday. The company’s fifty day moving average is $119.29 and its two-hundred day moving average is $124.18. The company has a market cap of $22.97 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.16. PulteGroup has a 12-month low of $107.15 and a 12-month high of $144.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, October 22nd. The construction company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business earned $2.96 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts expect that PulteGroup will post 9.51 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. PulteGroup’s dividend payout ratio is currently 11.11%.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. State Street Corp lifted its position in PulteGroup by 3.2% during the 2nd quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock valued at $1,261,092,000 after purchasing an additional 288,054 shares during the period. First Trust Advisors LP boosted its stake in shares of PulteGroup by 7.8% in the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock valued at $507,428,000 after purchasing an additional 313,581 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of PulteGroup by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after buying an additional 26,790 shares during the period. Bank of America Corp DE grew its position in shares of PulteGroup by 4.3% during the 1st quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock worth $230,889,000 after buying an additional 80,352 shares during the period. Finally, Amundi grew its position in shares of PulteGroup by 28.6% during the 1st quarter. Amundi now owns 1,438,508 shares of the construction company’s stock worth $169,183,000 after buying an additional 319,617 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.