The Goldman Sachs Group Cuts PulteGroup (NYSE:PHM) Price Target to $124.00

PulteGroup (NYSE:PHM) had its price target cut by The Goldman Sachs Group from $140.00 to $124.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts also recently issued reports about the company. Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Evercore ISI reduced their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Oppenheimer reduced their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

PulteGroup Stock Up 0.8 %

PHM opened at $116.95 on Tuesday. The business’s fifty day moving average is $120.93 and its two-hundred day moving average is $126.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $23.98 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.43 and a beta of 1.67. PulteGroup has a one year low of $100.24 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the business earned $2.90 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Analysts anticipate that PulteGroup will post 12.96 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.75%. PulteGroup’s dividend payout ratio is currently 6.49%.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHM. Grove Bank & Trust grew its stake in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares in the last quarter. Cromwell Holdings LLC grew its stake in shares of PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners grew its stake in shares of PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of PulteGroup by 3.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after buying an additional 88 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in shares of PulteGroup by 3.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after buying an additional 95 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

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.