Equities researchers at Wells Fargo & Co. started coverage on shares of PulteGroup Inc. (NYSE:PHM) in a research report issued on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $27.00 target price on shares of PulteGroup in a research note on Thursday, September 15th. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 25th. TheStreet upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th. MKM Partners reiterated a “hold” rating on shares of PulteGroup in a report on Wednesday, June 8th. Finally, FBR & Co increased their price target on shares of PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. PulteGroup currently has a consensus rating of “Hold” and an average price target of C$20.13.
Shares of PulteGroup (NYSE:PHM) traded up 1.26% during midday trading on Wednesday, reaching $20.14. 3,784,218 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $20.71 and a 200-day moving average of $19.50. PulteGroup has a one year low of $14.61 and a one year high of $22.40. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 13.26 and a beta of 1.59.
PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The business earned $1.80 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, equities research analysts anticipate that PulteGroup will post $1.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.79%. PulteGroup’s payout ratio is 23.68%.
In other news, VP James L. Ossowski sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the sale, the vice president now directly owns 51,880 shares in the company, valued at approximately C$1,037,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James R. Ellinghausen sold 100,000 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of C$20.25, for a total transaction of C$2,025,000.00. Following the sale, the vice president now owns 532,931 shares in the company, valued at C$10,791,852.75. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of PulteGroup during the fourth quarter valued at approximately $50,019,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of PulteGroup by 4.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 268,951 shares of the company’s stock worth $5,032,000 after buying an additional 11,864 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of PulteGroup by 13.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,797 shares of the company’s stock worth $1,362,000 after buying an additional 8,550 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of PulteGroup by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 77,358 shares of the company’s stock worth $1,447,000 after buying an additional 6,145 shares in the last quarter. Finally, PGGM Investments increased its stake in shares of PulteGroup by 2.5% in the first quarter. PGGM Investments now owns 203,896 shares of the company’s stock worth $3,815,000 after buying an additional 4,962 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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