Citigroup Increases PulteGroup (NYSE:PHM) Price Target to $129.00

PulteGroup (NYSE:PHMFree Report) had its price objective hoisted by Citigroup from $127.00 to $129.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Zelman & Associates upgraded shares of PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday, April 24th. Raymond James restated an outperform rating and set a $135.00 price target (up from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. StockNews.com upgraded shares of PulteGroup from a hold rating to a buy rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their target price on shares of PulteGroup from $106.00 to $113.00 and gave the stock a sector perform rating in a report on Wednesday, April 24th. Finally, Barclays boosted their target price on shares of PulteGroup from $126.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of Moderate Buy and a consensus target price of $111.87.

Read Our Latest Research Report on PHM

PulteGroup Trading Up 0.1 %

PulteGroup stock opened at $119.21 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $114.02 and a two-hundred day moving average price of $104.70. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.53 and a beta of 1.56. PulteGroup has a 52-week low of $65.16 and a 52-week high of $122.72.

PulteGroup (NYSE:PHMGet Free Report) last posted its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.59 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. Sell-side analysts expect that PulteGroup will post 12.64 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 0.67%. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

PulteGroup declared that its board has authorized a stock buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in PHM. Strategic Wealth Partners Ltd. acquired a new stake in PulteGroup during the first quarter worth about $213,000. Wahed Invest LLC lifted its stake in PulteGroup by 13.1% during the first quarter. Wahed Invest LLC now owns 4,135 shares of the construction company’s stock worth $499,000 after purchasing an additional 478 shares during the period. Plato Investment Management Ltd lifted its stake in PulteGroup by 216.1% during the first quarter. Plato Investment Management Ltd now owns 9,334 shares of the construction company’s stock worth $1,126,000 after purchasing an additional 6,381 shares during the period. Comerica Bank raised its stake in shares of PulteGroup by 1.0% in the first quarter. Comerica Bank now owns 102,788 shares of the construction company’s stock valued at $12,398,000 after acquiring an additional 977 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of PulteGroup by 148.6% in the first quarter. Meiji Yasuda Life Insurance Co now owns 13,050 shares of the construction company’s stock valued at $1,574,000 after acquiring an additional 7,800 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

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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.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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