PulteGroup (NYSE:PHM) Trading Down 3.1% – What’s Next?

PulteGroup, Inc. (NYSE:PHM)’s share price was down 3.1% during trading on Wednesday . The company traded as low as $129.83 and last traded at $129.85. Approximately 209,562 shares were traded during trading, a decline of 88% from the average daily volume of 1,813,871 shares. The stock had previously closed at $134.00.

Analyst Ratings Changes

A number of equities analysts recently commented on PHM shares. UBS Group raised their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Oppenheimer reduced their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Evercore ISI reduced their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50 day simple moving average of $135.85 and a two-hundred day simple moving average of $126.77. The company has a market cap of $26.46 billion, a PE ratio of 9.88, a PEG ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the business earned $2.90 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. WR Wealth Planners LLC increased its holdings in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Fortitude Family Office LLC increased its holdings 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 purchasing an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup in the third quarter valued at approximately $29,000. Rothschild Investment LLC acquired a new position in shares of PulteGroup in the second quarter valued at approximately $31,000. Finally, Candriam S.C.A. acquired a new position in shares of PulteGroup in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.