PulteGroup (NYSE:PHM) Shares Up 5%

Shares of PulteGroup, Inc. (NYSE:PHM) shot up 5% during mid-day trading on Thursday . The stock traded as high as $129.85 and last traded at $127.86. 844,902 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,793,747 shares. The stock had previously closed at $121.72.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PHM. Raymond James reiterated an “outperform” rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Barclays cut their price objective on PulteGroup from $136.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer upped their target price on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Citigroup reduced their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $117.00.

PulteGroup Trading Down 0.0 %

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $26.24 billion, a P/E ratio of 9.99, a P/E/G ratio of 0.56 and a beta of 1.61. The business’s fifty day simple moving average is $113.58 and its two-hundred day simple moving average is $110.66.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.59 billion. As a group, analysts forecast that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s payout ratio is presently 6.41%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup in the 1st quarter valued at $26,000. Benjamin Edwards Inc. acquired a new stake in shares of PulteGroup during the 1st quarter valued at about $26,000. LRI Investments LLC bought a new stake in PulteGroup in the first quarter valued at about $28,000. Continuum Advisory LLC raised its position in PulteGroup by 94.5% in the second quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in PulteGroup during the fourth quarter worth about $37,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.