PulteGroup (NYSE:PHM) Upgraded at UBS Group

UBS Group upgraded shares of PulteGroup (NYSE:PHM) from a neutral rating to a buy rating in a report published on Wednesday morning, Marketbeat reports. The firm currently has $148.00 price objective on the construction company’s stock, down from their previous price objective of $154.00.

PHM has been the topic of a number of other research reports. BTIG Research increased their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered 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. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Citigroup reduced their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.86.

PulteGroup Stock Performance

PHM opened at $107.62 on Wednesday. The stock has a market cap of $22.07 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.48 and a beta of 1.67. 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 stock’s 50 day simple moving average is $122.03 and its 200 day simple moving average is $126.69. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last announced 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. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.90 EPS. As a group, equities analysts anticipate that PulteGroup will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.82%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Hedge Funds Weigh In On PulteGroup

A number of hedge funds have recently bought and sold shares of the company. West Oak Capital LLC lifted its holdings in PulteGroup by 1,876.5% in the fourth quarter. West Oak Capital LLC now owns 1,680 shares of the construction company’s stock worth $183,000 after acquiring an additional 1,595 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in PulteGroup by 10.9% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,913 shares of the construction company’s stock worth $208,000 after purchasing an additional 188 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in PulteGroup by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock worth $496,000 after buying an additional 143 shares during the last quarter. Fortitude Family Office LLC grew its position in PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock worth $35,000 after buying an additional 137 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in PulteGroup by 1.3% in the fourth quarter. Oliver Luxxe Assets LLC now owns 48,427 shares of the construction company’s stock worth $5,274,000 after buying an additional 607 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.