PulteGroup, Inc. (NYSE:PHM – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $54.85.
Several brokerages recently weighed in on PHM. Bank of America raised shares of PulteGroup from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $60.00 in a research report on Wednesday, January 11th. Barclays raised shares of PulteGroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $45.00 to $58.00 in a research report on Wednesday, December 14th. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. BTIG Research raised their price objective on shares of PulteGroup from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 6th. Finally, Raymond James lowered shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st.
Institutional Investors Weigh In On PulteGroup
Hedge funds and other institutional investors have recently modified their holdings of the stock. MAI Capital Management grew its stake in shares of PulteGroup by 14.3% in the second quarter. MAI Capital Management now owns 7,022 shares of the construction company’s stock worth $278,000 after acquiring an additional 879 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of PulteGroup by 62.8% in the second quarter. Global Retirement Partners LLC now owns 2,245 shares of the construction company’s stock worth $89,000 after acquiring an additional 866 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of PulteGroup by 19.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,718 shares of the construction company’s stock worth $1,416,000 after acquiring an additional 5,826 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in PulteGroup by 9.6% during the second quarter. Treasurer of the State of North Carolina now owns 100,019 shares of the construction company’s stock worth $3,964,000 after buying an additional 8,747 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in PulteGroup by 5.3% during the second quarter. Rhumbline Advisers now owns 475,582 shares of the construction company’s stock worth $18,847,000 after buying an additional 24,149 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
PulteGroup Stock Performance
PulteGroup (NYSE:PHM – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The construction company reported $2.69 EPS for the quarter, missing the consensus estimate of $2.73 by ($0.04). The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.04 billion. PulteGroup had a return on equity of 30.80% and a net margin of 15.56%. Research analysts anticipate that PulteGroup will post 10.12 earnings per share for the current fiscal year.
PulteGroup Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 14th were given a $0.16 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.
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.
- Get a free copy of the StockNews.com research report on PulteGroup (PHM)
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