PulteGroup (NYSE:PHM) Price Target Raised to $150.00

PulteGroup (NYSE:PHM) had its target price upped by Barclays from $131.00 to $150.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other brokerages also recently issued reports on PHM. Royal Bank of Canada lifted their price target on PulteGroup from $106.00 to $113.00 and gave the stock a sector perform rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on PulteGroup from $126.00 to $131.00 and gave the company a buy rating in a report on Wednesday, April 24th. Evercore ISI boosted their target price on PulteGroup from $183.00 to $189.00 and gave the company an outperform rating in a report on Monday, July 15th. Raymond James reissued an outperform rating and issued a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Finally, Zelman & Associates raised PulteGroup from a neutral rating to an outperform rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of Moderate Buy and an average target price of $133.14.

PulteGroup Trading Up 4.0 %

PHM opened at $129.99 on Wednesday. PulteGroup has a 12 month low of $68.80 and a 12 month high of $130.93. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.54 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.85. The business has a fifty day moving average price of $114.31 and a 200 day moving average price of $111.56.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.00 EPS. Sell-side analysts expect that PulteGroup will post 12.81 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s dividend payout ratio is currently 6.41%.

Institutional Investors Weigh In On PulteGroup

Institutional investors and hedge funds have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new stake in PulteGroup during the 1st quarter valued at $26,000. LRI Investments LLC acquired a new stake in PulteGroup during the 1st quarter valued at $28,000. Continuum Advisory LLC grew its holdings in PulteGroup by 94.5% during the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in PulteGroup during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.