PulteGroup (NYSE:PHM) Given New $100.00 Price Target at Barclays

PulteGroup (NYSE:PHM) had its target price decreased by Barclays from $117.00 to $100.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

A number of other analysts have also weighed in on PHM. UBS Group raised their target price on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company lowered their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Bank of America dropped their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.64.

PulteGroup Price Performance

Shares of PHM stock opened at $91.79 on Tuesday. The business has a fifty day simple moving average of $104.79 and a 200 day simple moving average of $119.03. The company has a market cap of $18.58 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup has a twelve month low of $90.45 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, sell-side analysts forecast that PulteGroup will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.96%. PulteGroup’s payout ratio is 5.98%.

Insider Transactions at PulteGroup

In other news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Richardson Financial Services Inc. grew its stake in PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after acquiring an additional 89 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in shares of PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock worth $280,000 after purchasing an additional 95 shares in the last quarter. Meridian Wealth Management LLC grew its position in PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock valued at $1,440,000 after purchasing an additional 95 shares during the period. Fidelis Capital Partners LLC increased its stake in PulteGroup by 2.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock valued at $479,000 after purchasing an additional 103 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after buying an additional 105 shares during the last quarter. 89.90% of the stock is owned by 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.