PulteGroup (NYSE:PHM) PT Lowered to $165.00 at Oppenheimer

PulteGroup (NYSE:PHM) had its price objective cut by Oppenheimer from $168.00 to $165.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

PHM has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of PHM stock opened at $132.47 on Wednesday. The stock’s fifty day simple moving average is $137.14 and its 200 day simple moving average is $123.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.76. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.55 and a beta of 1.62. PulteGroup has a one year low of $71.20 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 EPS. On average, analysts expect that PulteGroup will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. PulteGroup’s dividend payout ratio is presently 6.41%.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently modified their holdings of the business. Financial Advocates Investment Management bought a new stake in shares of PulteGroup in the third quarter worth about $2,040,000. 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 worth $27,000 after acquiring an additional 99 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of PulteGroup by 22.7% in the third quarter. Nisa Investment Advisors LLC now owns 119,794 shares of the construction company’s stock worth $17,218,000 after acquiring an additional 22,186 shares in the last quarter. Concord Wealth Partners boosted 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 buying an additional 83 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of PulteGroup by 7,042.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the construction company’s stock worth $72,000 after buying an additional 493 shares during the period. 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.