PulteGroup (NYSE:PHM) Price Target Cut to $150.00 by Analysts at Oppenheimer

PulteGroup (NYSE:PHM) had its target price lowered by Oppenheimer from $165.00 to $150.00 in a research report sent to investors on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the construction company’s stock.

Other analysts have also issued research reports about the company. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Bank of America cut their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, UBS Group upgraded PulteGroup from a “neutral” rating to a “buy” rating and dropped their target price for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.86.

PulteGroup Stock Down 4.0 %

Shares of PHM opened at $113.73 on Friday. The company has a market capitalization of $23.32 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The stock has a fifty day simple moving average of $117.71 and a two-hundred day simple moving average of $127.42.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. As a group, equities analysts forecast that PulteGroup will post 13.06 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is 6.49%.

PulteGroup declared that its board has initiated a share buyback program on Thursday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently bought and sold shares of PHM. Fortitude Family Office LLC raised its position in shares of PulteGroup by 115.1% in the third 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 in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth about $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter valued at approximately $29,000. JNBA Financial Advisors bought a new stake in shares of PulteGroup in the third quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of PulteGroup by 1,059.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after purchasing an additional 286 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

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.