Buckingham Research started coverage on shares of PulteGroup (NYSE:PHM) in a research report released on Friday, MarketBeat reports. The firm issued a neutral rating and a $30.00 price target on the construction company’s stock. The analysts noted that the move was a valuation call.
Several other analysts have also weighed in on PHM. Zacks Investment Research lowered shares of PulteGroup from a hold rating to a sell rating in a research note on Monday, December 31st. Royal Bank of Canada lowered shares of PulteGroup from a sector perform rating to an underperform rating and set a $25.00 price target for the company. in a research note on Friday. They noted that the move was a valuation call. Barclays set a $24.00 price target on shares of PulteGroup and gave the company a hold rating in a research note on Wednesday, December 12th. ValuEngine upgraded shares of PulteGroup from a sell rating to a hold rating in a research note on Tuesday, December 18th. Finally, Citigroup decreased their price target on shares of PulteGroup from $32.00 to $26.00 and set a hold rating for the company in a research note on Wednesday, October 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. PulteGroup presently has an average rating of Hold and a consensus price target of $29.27.
NYSE:PHM opened at $28.58 on Friday. The firm has a market capitalization of $8.13 billion, a PE ratio of 13.05, a P/E/G ratio of 0.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.56 and a quick ratio of 0.56. PulteGroup has a twelve month low of $20.64 and a twelve month high of $35.21.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 23rd. The construction company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.62 billion. PulteGroup had a net margin of 8.63% and a return on equity of 21.98%. PulteGroup’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Analysts forecast that PulteGroup will post 3.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th were issued a $0.11 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, December 17th. PulteGroup’s payout ratio is 20.09%.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc lifted its holdings in PulteGroup by 8.5% during the third quarter. Vanguard Group Inc now owns 30,373,220 shares of the construction company’s stock valued at $752,345,000 after purchasing an additional 2,378,937 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in PulteGroup by 26.5% during the third quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock valued at $216,733,000 after purchasing an additional 1,834,260 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in PulteGroup by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 8,169,124 shares of the construction company’s stock valued at $202,356,000 after purchasing an additional 497,053 shares during the last quarter. LSV Asset Management lifted its holdings in PulteGroup by 121.7% during the third quarter. LSV Asset Management now owns 8,122,687 shares of the construction company’s stock valued at $201,198,000 after purchasing an additional 4,459,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in PulteGroup by 1.5% during the second quarter. Bank of America Corp DE now owns 7,112,473 shares of the construction company’s stock valued at $204,484,000 after purchasing an additional 106,483 shares during the last quarter. 87.69% of the stock is currently owned by institutional investors.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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