PulteGroup (NYSE:PHM) Given Neutral Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of PulteGroup (NYSE:PHMFree 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.

Check Out Our Latest Stock Report on PHM

PulteGroup Stock Down 0.9 %

Shares of NYSE:PHM opened at $104.56 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.88. The firm has a market capitalization of $22.54 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.31 and a beta of 1.54. The firm’s 50-day moving average is $100.09 and its two-hundred day moving average is $86.30. PulteGroup has a 1 year low of $52.24 and a 1 year high of $110.75.

PulteGroup (NYSE:PHMGet 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

(Get Free Report)

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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Analyst Recommendations for PulteGroup (NYSE:PHM)

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