Wedbush reaffirmed their neutral rating on shares of PulteGroup (NYSE:PHM – Free Report) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $85.00 price target on the construction company’s stock.
Several other equities analysts have also recently issued reports on the company. StockNews.com cut PulteGroup from a buy rating to a hold rating in a research note on Wednesday. Royal Bank of Canada reduced their price objective on shares of PulteGroup from $90.00 to $81.00 and set a sector perform rating on the stock in a report on Wednesday, October 25th. Raymond James reduced their price objective on shares of PulteGroup from $105.00 to $100.00 and set an outperform rating on the stock in a report on Thursday, October 26th. UBS Group lowered shares of PulteGroup from a buy rating to a neutral rating and raised their price objective for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Finally, Barclays increased their price objective on PulteGroup from $120.00 to $126.00 and gave the company an overweight rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup has an average rating of Moderate Buy and a consensus price target of $99.00.
PulteGroup Stock Down 0.9 %
PulteGroup (NYSE:PHM – Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 earnings per share. Analysts predict that PulteGroup will post 11.37 EPS for the current year.
PulteGroup Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 19th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from PulteGroup’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, December 18th. PulteGroup’s payout ratio is presently 6.81%.
Hedge Funds Weigh In On PulteGroup
A number of hedge funds and other institutional investors have recently made changes to their positions in PHM. Aprio Wealth Management LLC lifted its position in PulteGroup by 3.1% during the 4th quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after acquiring an additional 107 shares during the period. KMG Fiduciary Partners LLC raised its stake in shares of PulteGroup by 4.1% during the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock worth $320,000 after purchasing an additional 121 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of PulteGroup by 0.3% during the fourth quarter. DNB Asset Management AS now owns 43,391 shares of the construction company’s stock worth $4,479,000 after purchasing an additional 123 shares during the period. Cascade Investment Advisors Inc. grew its position in PulteGroup by 1.6% in the 4th quarter. Cascade Investment Advisors Inc. now owns 8,165 shares of the construction company’s stock valued at $843,000 after buying an additional 125 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in PulteGroup by 9.2% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 1,695 shares of the construction company’s stock valued at $126,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.
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, American West, and John Wieland Homes and Neighborhoods brand names.
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