PulteGroup (NYSE:PHM) PT Raised to $160.00 at Bank of America

PulteGroup (NYSE:PHM) had its target price raised by Bank of America from $138.00 to $160.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also weighed in on the company. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the company an outperform rating in a report on Monday, July 15th. Royal Bank of Canada raised their price objective on PulteGroup from $113.00 to $120.00 and gave the company a sector perform rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Citigroup dropped their price target on shares of PulteGroup from $129.00 to $117.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Finally, Raymond James upped 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of Moderate Buy and an average target price of $134.71.

PulteGroup Price Performance

Shares of NYSE PHM opened at $141.86 on Thursday. The company has a market capitalization of $29.44 billion, a PE ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup has a twelve month low of $68.80 and a twelve month high of $145.84. The firm has a fifty day simple moving average of $128.95 and a 200 day simple moving average of $118.60.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm posted $3.00 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

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

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently modified their holdings of the business. Independent Advisor Alliance purchased a new stake in PulteGroup during the 4th quarter worth approximately $243,000. PNC Financial Services Group Inc. grew its holdings in shares of PulteGroup by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 32,649 shares of the construction company’s stock valued at $3,370,000 after buying an additional 414 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of PulteGroup by 21.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,396 shares of the construction company’s stock valued at $454,000 after acquiring an additional 763 shares during the period. Clearbridge Investments LLC purchased a new position in PulteGroup in the 4th quarter worth $201,000. Finally, Quest Partners LLC acquired a new stake in PulteGroup during the 4th quarter worth about $497,000. Institutional investors own 89.90% of the company’s stock.

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.