Jefferies Financial Group Boosts PulteGroup (NYSE:PHM) Price Target to $131.00

PulteGroup (NYSE:PHM) had its target price boosted by Jefferies Financial Group from $126.00 to $131.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the company a sector perform rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the company a neutral rating in a research report on Thursday, January 11th. Oppenheimer increased their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an outperform rating in a research report on Wednesday. StockNews.com downgraded shares of PulteGroup from a buy rating to a hold rating in a research report on Saturday, March 2nd. Finally, Zelman & Associates raised shares of PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $111.73.

PulteGroup Stock Up 2.1 %

NYSE:PHM opened at $113.74 on Wednesday. The firm’s 50-day moving average price is $111.28 and its 200-day moving average price is $99.42. The company has a market capitalization of $23.92 billion, a PE ratio of 9.11, a P/E/G ratio of 0.54 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. PulteGroup has a 1-year low of $64.70 and a 1-year high of $121.07.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. On average, equities analysts predict that PulteGroup will post 11.96 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has authorized a stock buyback program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several institutional investors have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup during the 1st quarter worth approximately $26,000. Rakuten Securities Inc. bought a new stake in PulteGroup during the 4th quarter worth approximately $37,000. Lindbrook Capital LLC raised its stake in PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after acquiring an additional 292 shares during the period. Security National Bank bought a new stake in PulteGroup during the 4th quarter worth approximately $40,000. Finally, ORG Partners LLC raised its stake in PulteGroup by 3,463.6% during the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after acquiring an additional 381 shares during the period. Institutional investors own 89.90% of the company’s stock.

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.