PulteGroup (NYSE:PHM) Price Target Increased to $65.00 by Analysts at JPMorgan Chase & Co.

PulteGroup (NYSE:PHMGet Rating) had its target price raised by JPMorgan Chase & Co. from $43.50 to $65.00 in a research note published on Tuesday morning, The Fly reports.

Several other analysts have also commented on the company. Raymond James lowered PulteGroup from a strong-buy rating to a market perform rating in a report on Friday, October 21st. KeyCorp upped their target price on PulteGroup from $47.00 to $51.00 and gave the company an overweight rating in a research report on Monday, November 14th. Bank of America downgraded PulteGroup from a buy rating to a neutral rating and upped their target price for the company from $41.00 to $48.00 in a research report on Wednesday, July 27th. Citigroup upped their target price on PulteGroup to $51.00 in a research report on Thursday, October 13th. Finally, StockNews.com downgraded PulteGroup from a buy rating to a hold rating in a research report on Tuesday, October 11th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of Moderate Buy and a consensus target price of $50.50.

PulteGroup Stock Performance

Shares of PHM opened at $43.73 on Tuesday. PulteGroup has a 12 month low of $35.03 and a 12 month high of $58.09. The stock has a fifty day moving average price of $39.77 and a 200-day moving average price of $41.46. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. The firm has a market cap of $9.96 billion, a PE ratio of 4.44, a P/E/G ratio of 2.41 and a beta of 1.28.

PulteGroup (NYSE:PHMGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The construction company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.73 by ($0.04). PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Equities research analysts predict that PulteGroup will post 10.15 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, September 21st. PulteGroup’s dividend payout ratio (DPR) is presently 6.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PHM. Greenhaven Associates Inc. purchased a new position in PulteGroup in the 2nd quarter valued at about $168,140,000. Balyasny Asset Management LLC purchased a new position in PulteGroup in the 3rd quarter valued at about $78,542,000. AQR Capital Management LLC lifted its stake in PulteGroup by 109.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock valued at $147,307,000 after buying an additional 1,972,574 shares in the last quarter. First Trust Advisors LP lifted its stake in PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after buying an additional 1,101,565 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in PulteGroup by 36.3% in the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after buying an additional 972,310 shares in the last quarter. 89.34% of the stock is owned by hedge funds and other institutional investors.

About PulteGroup

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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, American West, and John Wieland Homes and Neighborhoods brand names.

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