BTIG Research Boosts PulteGroup (NYSE:PHM) Price Target to $156.00

PulteGroup (NYSE:PHM) had its price target lifted by BTIG Research from $139.00 to $156.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

PHM has been the subject of several other research reports. Wells Fargo & Company upped their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup reduced their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Evercore ISI increased their price target on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Price Performance

Shares of NYSE PHM opened at $132.47 on Wednesday. PulteGroup has a 1-year low of $71.20 and a 1-year high of $149.47. The business has a 50-day moving average of $137.14 and a 200-day moving average of $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 company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping 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 company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that PulteGroup will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

Insider Buying and Selling at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock worth $15,814,039 over the last quarter. 0.83% of the stock is owned by corporate insiders.

Institutional Trading of PulteGroup

Large investors have recently added to or reduced their stakes in the business. WR Wealth Planners LLC increased its position in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. LRI Investments LLC acquired a new stake in PulteGroup in the 1st quarter valued at approximately $28,000. Rothschild Investment LLC acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $33,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.