PulteGroup (NYSE:PHM) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of PulteGroup (NYSE:PHM) from a buy rating to a hold rating in a research report report published on Wednesday.

A number of other research analysts have also issued reports on PHM. BTIG Research increased their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Barclays restated an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of PulteGroup in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Stock Performance

PHM opened at $118.44 on Wednesday. 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 business has a fifty day simple moving average of $133.08 and a 200 day simple moving average of $127.14. PulteGroup has a 1 year low of $99.03 and a 1 year high of $149.47. The company has a market capitalization of $24.29 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. 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 posted $2.90 earnings per share. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. Research analysts expect that PulteGroup will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. PulteGroup’s dividend payout ratio is 6.49%.

Institutional Trading of PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in the company. WR Wealth Planners LLC raised its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the third quarter worth $29,000. Rothschild Investment LLC bought a new stake in shares of PulteGroup in the second quarter worth $31,000. Finally, Candriam S.C.A. acquired a new stake in PulteGroup in the second quarter valued at $33,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

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.