PulteGroup (NYSE:PHM) Trading Down 3.1% – What’s Next?

PulteGroup, Inc. (NYSE:PHM)’s stock price was down 3.1% during mid-day trading on Wednesday . The company traded as low as $129.83 and last traded at $129.85. Approximately 209,562 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,813,871 shares. The stock had previously closed at $134.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PHM shares. Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Oppenheimer dropped their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group upped their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, BTIG Research upped their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Price Performance

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 company has a 50-day moving average price of $135.85 and a 200-day moving average price of $126.77. The firm has a market capitalization of $26.46 billion, a PE ratio of 9.88, a P/E/G ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the business earned $2.90 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Sell-side analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend 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 yield of 0.68%. PulteGroup’s dividend payout ratio is 5.90%.

Hedge Funds Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup during the third quarter worth about $29,000. WR Wealth Planners LLC lifted its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares during the period. Rothschild Investment LLC purchased a new position in PulteGroup during the second quarter worth about $31,000. Finally, Candriam S.C.A. purchased a new position in PulteGroup during the second quarter worth about $33,000. 89.90% of the stock is currently owned by hedge funds and other 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.