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 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.
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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