PulteGroup (NYSE:PHM) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of PulteGroup (NYSE:PHM) from a neutral rating to an outperform rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $135.00 price objective on the construction company’s stock.

Several other analysts have also commented on PHM. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. dropped their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Finally, Oppenheimer reduced their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

PulteGroup Stock Performance

NYSE:PHM opened at $110.05 on Friday. PulteGroup has a 1-year low of $99.68 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s fifty day moving average price is $124.17 and its 200 day moving average price is $126.77. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that PulteGroup will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds have recently made changes to their positions in PHM. Fortitude Family Office LLC increased its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup during the 3rd quarter worth about $29,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth about $31,000. Candriam S.C.A. bought a new position in shares of PulteGroup in the second quarter worth about $33,000. Finally, JNBA Financial Advisors bought a new stake in PulteGroup in the 3rd quarter valued at $43,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.