Barclays Cuts PulteGroup (NYSE:PHM) Price Target to $125.00

PulteGroup (NYSE:PHM) had its price target cut by Barclays from $140.00 to $125.00 in a report released on Thursday,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Several other research analysts have also recently commented on PHM. Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lowered their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group raised PulteGroup from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. Evercore ISI lowered their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, BTIG Research boosted their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $144.14.

PulteGroup Trading Up 0.2 %

NYSE:PHM opened at $117.11 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup has a one year low of $100.24 and a one year high of $149.47. The business’s 50-day simple moving average is $120.34 and its 200 day simple moving average is $127.01. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that PulteGroup will post 12.96 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.75%. PulteGroup’s dividend payout ratio is 6.49%.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. Fortitude Family Office LLC grew its holdings in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new position in PulteGroup in the 3rd quarter worth approximately $29,000. JNBA Financial Advisors bought a new position in PulteGroup in the 3rd quarter worth approximately $43,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after buying an additional 286 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after buying an additional 72 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

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.