PulteGroup (NYSE:PHM) Price Target Cut to $124.00 by Analysts at The Goldman Sachs Group

PulteGroup (NYSE:PHM) had its target price decreased by The Goldman Sachs Group from $140.00 to $124.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

A number of other research analysts also recently commented on the company. Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. Citigroup reduced their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Evercore ISI dropped their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, BTIG Research boosted their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.21.

PulteGroup Stock Up 3.0 %

Shares of NYSE:PHM opened at $112.30 on Tuesday. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47. The company’s fifty day moving average is $121.20 and its two-hundred day moving average is $126.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

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

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.78%. PulteGroup’s dividend payout ratio (DPR) is 6.49%.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Grove Bank & Trust increased its holdings in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares in the last quarter. Cromwell Holdings LLC grew its holdings in shares of PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after acquiring an additional 83 shares during the last quarter. Concord Wealth Partners raised its position in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in shares of PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after purchasing an additional 88 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of PulteGroup by 2.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after purchasing an additional 97 shares during the period. 89.90% of the stock is currently owned by institutional investors.

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.