PulteGroup (NYSE:PHM) Price Target Lowered to $119.00 at Citigroup

PulteGroup (NYSE:PHM) had its price target lowered by Citigroup from $146.00 to $119.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

Other research analysts have also recently issued reports about the company. Barclays restated an “equal weight” rating and issued a $140.00 price objective (down from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Finally, Bank of America increased their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.29.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $108.77 on Monday. The company has a 50 day moving average price of $124.17 and a 200 day moving average price of $126.99. The firm has a market capitalization of $22.31 billion, a P/E ratio of 8.02, a PEG ratio of 0.48 and a beta of 1.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 earnings per share. Sell-side analysts expect that PulteGroup will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup’s dividend payout ratio (DPR) is currently 6.49%.

Institutional Investors Weigh In On PulteGroup

Large investors have recently bought and sold shares of the company. Grove Bank & Trust increased its position in shares of PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. Cromwell Holdings LLC grew its holdings in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners raised its position in shares of PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of PulteGroup by 3.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after buying an additional 88 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in PulteGroup by 2.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock worth $516,000 after acquiring an additional 97 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.