PulteGroup’s (PHM) “Equal Weight” Rating Reiterated at Barclays

Barclays reiterated their equal weight rating on shares of PulteGroup (NYSE:PHM) in a research note released on Wednesday, MarketBeat reports. Barclays currently has a $140.00 price objective on the construction company’s stock, down from their previous price objective of $150.00.

A number of other equities research analysts also recently issued reports on PHM. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Bank of America lifted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $144.50.

PulteGroup Stock Down 1.9 %

NYSE PHM opened at $118.44 on Wednesday. The stock has a 50 day moving average price of $133.50 and a 200-day moving average price of $127.11. PulteGroup has a one year low of $99.03 and a one year high of $149.47. The company has a market capitalization of $24.29 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping 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 business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $2.90 EPS. The business’s revenue was up 11.8% on a year-over-year basis. As a group, equities analysts predict that PulteGroup will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

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

Hedge Funds Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in PHM. Trustmark National Bank Trust Department lifted its stake in PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares during the period. New Millennium Group LLC raised its holdings in shares of PulteGroup by 10,625.8% in the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 9,457 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after purchasing an additional 4,840 shares during the period. Vision Capital Corp purchased a new position in PulteGroup during the third quarter valued at approximately $22,348,000. Finally, Sanctuary Advisors LLC increased its holdings in PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after buying an additional 33,472 shares during the period. Institutional investors own 89.90% of the company’s stock.

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.