PulteGroup (NYSE:PHM) Price Target Lowered to $117.00 at Citigroup

PulteGroup (NYSE:PHM) had its price objective cut by Citigroup from $129.00 to $117.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other research analysts have also weighed in on PHM. Barclays increased their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Oppenheimer boosted their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their target price on PulteGroup from $126.00 to $131.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Zelman & Associates raised PulteGroup from a neutral rating to an outperform rating in a research report on Wednesday, April 24th. Finally, Raymond James reaffirmed an outperform rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $112.21.

PulteGroup Stock Down 1.6 %

PHM stock opened at $104.52 on Tuesday. The company has a 50 day moving average price of $113.93 and a two-hundred day moving average price of $109.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $21.98 billion, a P/E ratio of 8.37, a PEG ratio of 0.49 and a beta of 1.61. PulteGroup has a one year low of $68.80 and a one year high of $122.72.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.59 billion. As a group, sell-side analysts expect that PulteGroup will post 12.64 EPS for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. Certuity LLC acquired a new stake in PulteGroup during the 4th quarter valued at approximately $245,000. Nordea Investment Management AB increased its stake in shares of PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after buying an additional 28,833 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in PulteGroup by 166.6% in the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after acquiring an additional 8,215 shares in the last quarter. Personal CFO Solutions LLC bought a new position in PulteGroup during the 4th quarter valued at $719,000. Finally, Truist Financial Corp increased its position in shares of PulteGroup by 248.6% in the 4th quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock worth $19,738,000 after purchasing an additional 136,370 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other 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.