Brokerages Set PulteGroup, Inc. (NYSE:PHM) Target Price at $140.86

PulteGroup, Inc. (NYSE:PHM) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $140.86.

Several research analysts have commented on PHM shares. 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. The Goldman Sachs Group decreased their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays cut their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Citigroup decreased their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at $7,961,727. The trade was a 16.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PulteGroup

Institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC boosted its holdings in shares of PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after purchasing an additional 88 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of PulteGroup by 16.7% during the 4th quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after buying an additional 89 shares during the period. Premier Path Wealth Partners LLC grew its holdings in shares of PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after acquiring an additional 95 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of PulteGroup by 0.7% during the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock valued at $1,440,000 after acquiring an additional 95 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of PulteGroup by 2.8% in 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. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 2.2 %

NYSE:PHM opened at $103.51 on Monday. PulteGroup has a 12-month low of $100.54 and a 12-month high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $109.29 and a 200 day simple moving average of $123.56. The firm has a market capitalization of $20.96 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Equities research analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup announced that its board has initiated a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. PulteGroup’s dividend payout ratio (DPR) is 5.98%.

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.