PulteGroup (NYSE:PHM) receives new price target of $51.00 from Citigroup
PulteGroup (NYSE: PHM – Get an Assessment) had its price target raised by Citigroup to $51.00 in a research note released Wednesday morning, Stock Target Advisor reports. Citigroup currently has an outperform rating for the construction company’s stock.
Several other analysts have also recently published reports on the PHM. Goldman Sachs Group lowered its price target on PulteGroup shares from $63.00 to $48.00 and set a neutral rating for the company in a Tuesday, April 12 research note. JPMorgan Chase & Co. cut its price target on PulteGroup shares from $51.00 to $49.50 and set an overweight rating on the stock in a Tuesday, July 12 report. Barclays lowered its price target on PulteGroup shares from $49.00 to $48.00 and set an equal weight rating for the company in a Thursday July 14 research report. Wells Fargo & Company lowered its price target on PulteGroup shares from $46.00 to $41.00 and set an equal weight rating for the company in a Friday, June 17 research report. Finally, Credit Suisse Group assumed coverage for PulteGroup shares in a research report on Tuesday, April 5. They issued an outperform rating and a target price of $52.00 for the company. Five investment analysts gave the stock a hold rating, seven gave the company a buy rating and one gave the company’s stock a strong buy rating. Based on MarketBeat data, PulteGroup has an average moderate buy rating and a consensus target price of $51.21.
PulteGroup trades up 2.0%
Shares of PHM opened at $43.66 on Wednesday. The company has a debt ratio of 0.27, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50-day simple moving average of $42.51 and a 200-day simple moving average of $45.30. PulteGroup has a 1-year low of $35.03 and a 1-year high of $58.09. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 5.35, a growth price-to-earnings ratio of 0.69 and a beta of 1.33.
PulteGroup (NYSE:PHM – Get Rating) last released quarterly earnings data on Tuesday, July 26. The construction company reported earnings per share of $2.73 for the quarter, beating analysts’ consensus estimate of $2.59 by $0.14. The company posted revenue of $3.93 billion in the quarter, compared to $4.07 billion expected by analysts. PulteGroup had a net margin of 14.58% and a return on equity of 27.91%. The company’s revenue increased 16.9% year over year. During the same period last year, the company posted EPS of $1.72. Equity analysts expect PulteGroup to post EPS of 10.69 for the current fiscal year.
PulteGroup Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5. Investors of record on Friday, June 10 received a dividend of $0.15 per share. This represents an annualized dividend of $0.60 and a yield of 1.37%. The ex-dividend date was Thursday, June 9. PulteGroup’s dividend payout ratio is currently 7.35%.
PulteGroup Institutional Trading
Several institutional investors and hedge funds have recently increased or reduced their stake in PHM. Avantax Advisory Services Inc. acquired a new stake in PulteGroup during the fourth quarter valued at approximately $303,000. National Bank of Canada FI acquired a new stake in PulteGroup during the fourth quarter valued at approximately $370,000. Van ECK Associates Corp increased its stake in PulteGroup by 10.3% during the fourth quarter. Van ECK Associates Corp now owns 28,908 shares of the construction company valued at $1,652,000 after buying 2,692 additional shares in the last quarter. Janney Montgomery Scott LLC increased its stake in PulteGroup by 7.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 31,981 shares of the construction company valued at $1,828,000 after buying 2,172 additional shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in PulteGroup by 36.2% during the fourth quarter. State of Michigan Retirement System now owns 111,815 shares of the construction company valued at $6,391,000 after purchasing an additional 29,740 shares in the last quarter. 90.32% of the shares are held by institutional investors and hedge funds.
About Pulte Group
(Get a rating)
PulteGroup, Inc, through its subsidiaries, is primarily engaged in the residential construction business in the United States. It acquires and develops land primarily for residential purposes; and build housing on that land. The company also offers various home designs, including single-detached homes, townhouses, condominiums and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods brands.
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