Goldman Sachs Group Initiates Coverage on PulteGroup (NYSE:PHM)

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Goldman Sachs Group initiated coverage on shares of PulteGroup (NYSE:PHM) in a research note issued to investors on Friday, 24/7 WallStreet reports. The brokerage issued a buy rating and a $45.00 price target on the construction company’s stock.

A number of other analysts also recently commented on PHM. Zacks Investment Research upgraded shares of PulteGroup from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upgraded PulteGroup from a neutral rating to an overweight rating and boosted their target price for the stock from $30.00 to $37.50 in a report on Wednesday, September 11th. SunTrust Banks initiated coverage on PulteGroup in a research report on Monday, August 12th. They issued a buy rating and a $38.00 price target for the company. ValuEngine lowered PulteGroup from a hold rating to a sell rating in a research report on Tuesday, December 3rd. Finally, Wedbush increased their price target on PulteGroup from $28.00 to $34.00 and gave the company a neutral rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $36.40.

PulteGroup stock opened at $40.06 on Friday. The company has a fifty day simple moving average of $39.24 and a 200-day simple moving average of $34.79. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.41 and a beta of 0.61. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.53. PulteGroup has a 52-week low of $24.45 and a 52-week high of $41.22.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.09. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.58 billion. PulteGroup had a net margin of 9.01% and a return on equity of 20.02%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. On average, research analysts anticipate that PulteGroup will post 3.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. PulteGroup’s payout ratio is 12.26%.

In other PulteGroup news, SVP James L. Ossowski sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $39.95, for a total value of $399,500.00. Following the transaction, the senior vice president now directly owns 25,750 shares in the company, valued at approximately $1,028,712.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of PulteGroup in the 1st quarter valued at $111,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of PulteGroup by 18.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,172,660 shares of the construction company’s stock valued at $37,080,000 after acquiring an additional 180,840 shares during the last quarter. SG Americas Securities LLC increased its position in shares of PulteGroup by 127.8% during the second quarter. SG Americas Securities LLC now owns 182,708 shares of the construction company’s stock valued at $5,777,000 after acquiring an additional 102,519 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of PulteGroup by 69.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 467,355 shares of the construction company’s stock valued at $14,778,000 after acquiring an additional 191,740 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of PulteGroup by 3.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 37,511 shares of the construction company’s stock valued at $1,186,000 after acquiring an additional 1,244 shares during the period. Institutional investors own 86.04% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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