Equities research analysts at Wedbush assumed coverage on shares of PulteGroup Inc. (NYSE:PHM) in a research report issued on Monday. The brokerage set an “underperform” rating and a $16.00 price target on the stock.
Other equities analysts have also issued reports about the company. Credit Suisse Group AG reissued a “sell” rating on shares of PulteGroup in a research note on Tuesday, July 12th. FBR & Co increased their price target on PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, July 25th. RBC Capital Markets reissued an “outperform” rating and set a $26.00 price target (up from $23.00) on shares of PulteGroup in a research note on Sunday, July 24th. Finally, Deutsche Bank AG raised PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, July 25th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$20.13.
Shares of PulteGroup (NYSE:PHM) opened at 19.29 on Monday. The company’s 50 day moving average price is $20.91 and its 200 day moving average price is $19.44. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 12.70 and a beta of 1.59. PulteGroup has a 52-week low of $14.61 and a 52-week high of $22.40.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis. On average, analysts predict that PulteGroup will post $1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.87%. PulteGroup’s payout ratio is 23.68%.
In other PulteGroup news, COO Harmon D. Smith sold 53,582 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of C$22.05, for a total transaction of C$1,181,483.10. Following the transaction, the chief operating officer now directly owns 313,628 shares in the company, valued at approximately C$6,915,497.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James L. Ossowski sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total value of C$200,000.00. Following the transaction, the vice president now owns 51,880 shares in the company, valued at C$1,037,600. The disclosure for this sale can be found here. 1.83% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG increased its position in PulteGroup by 925.7% in the second quarter. Credit Suisse AG now owns 12,969,345 shares of the company’s stock valued at $252,772,000 after buying an additional 11,704,936 shares during the last quarter. Boston Partners increased its position in PulteGroup by 53.9% in the second quarter. Boston Partners now owns 25,047,967 shares of the company’s stock valued at $488,185,000 after buying an additional 8,773,436 shares during the last quarter. Norges Bank purchased a new position in PulteGroup during the fourth quarter valued at approximately $50,019,000. Dimensional Fund Advisors LP increased its position in PulteGroup by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,166,771 shares of the company’s stock valued at $198,134,000 after buying an additional 2,132,979 shares during the last quarter. Finally, BB&T Securities LLC increased its position in PulteGroup by 7,606.5% in the first quarter. BB&T Securities LLC now owns 1,917,538 shares of the company’s stock valued at $35,877,000 after buying an additional 1,892,656 shares during the last quarter. 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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