Analysts Set PulteGroup, Inc. (NYSE:PHM) Target Price at $106.47

PulteGroup, Inc. (NYSE:PHM) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $106.47.

PHM has been the topic of a number of analyst reports. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. Barclays lifted their price objective on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Raymond James lifted their price target 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.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Arlington Trust Co LLC acquired a new position in PulteGroup in the 3rd quarter valued at $33,000. Baystate Wealth Management LLC raised its holdings in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after acquiring an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of PulteGroup during the 3rd quarter valued at $36,000. Rakuten Securities Inc. purchased a new stake in shares of PulteGroup during the 4th quarter valued at $37,000. Finally, Lindbrook Capital LLC grew its stake in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after buying an additional 292 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

NYSE PHM opened at $112.76 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. PulteGroup has a 52-week low of $62.35 and a 52-week high of $121.07. The business’s 50-day moving average price is $110.73 and its 200 day moving average price is $98.96. The firm has a market cap of $23.79 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.51 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the company posted $3.63 earnings per share. The business’s revenue was down 15.5% on a year-over-year basis. On average, equities research analysts expect that PulteGroup will post 11.79 earnings per share for the current year.

PulteGroup declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is currently 6.81%.

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.