PulteGroup, Inc. (NYSE:PHM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $140.7143.

Several analysts have issued reports on PHM shares. Seaport Research Partners restated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Truist Financial cut their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Bank of America reduced their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Evercore boosted their price target on PulteGroup from $146.00 to $151.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays cut their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, COO Matthew William Koart sold 7,457 shares of PulteGroup stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $117.18, for a total transaction of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares in the company, valued at $414,817.20. This trade represents a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHM. Cedar Mountain Advisors LLC boosted its holdings in PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. NFSG Corp acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $29,000. Rachor Investment Advisory Services LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $31,000. HHM Wealth Advisors LLC lifted its position in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after buying an additional 168 shares during the period. Finally, DV Equities LLC acquired a new stake in PulteGroup in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $118.58 on Wednesday. PulteGroup has a 12 month low of $98.27 and a 12 month high of $144.49. The company has a market cap of $22.59 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.50 and a beta of 1.20. The business’s 50 day moving average is $119.08 and its two-hundred day moving average is $124.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.01). The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. On average, equities analysts expect that PulteGroup will post 10 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s payout ratio is currently 10.06%.

PulteGroup declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.