PulteGroup, Inc. (NYSE:PHM) Receives $133.14 Consensus Target Price from Brokerages

PulteGroup, Inc. (NYSE:PHM) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $134.71.

A number of equities analysts have recently issued reports on PHM shares. Raymond James increased their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI increased their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Oppenheimer boosted their price objective on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Bank of America upped their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th.

PulteGroup Price Performance

Shares of PHM opened at $141.86 on Monday. The firm has a market cap of $29.44 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. PulteGroup has a 52-week low of $68.80 and a 52-week high of $145.84. The business’s 50 day moving average price is $128.95 and its two-hundred day moving average price is $118.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. PulteGroup’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.00 EPS. On average, equities analysts anticipate that PulteGroup will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s payout ratio is currently 6.41%.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PulteGroup in the second quarter worth approximately $2,488,000. Sanctuary Advisors LLC bought a new position in shares of PulteGroup in the 2nd quarter worth $9,995,000. Clearbridge Investments LLC raised its position in shares of PulteGroup by 460.7% during the 2nd quarter. Clearbridge Investments LLC now owns 10,933 shares of the construction company’s stock valued at $1,204,000 after buying an additional 8,983 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth $374,000. Finally, New Century Financial Group LLC purchased a new position in PulteGroup in the second quarter worth $217,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Company Profile

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.