PulteGroup, Inc. (NYSE:PHM) Receives $140.86 Average Price Target from Analysts

Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. Six research 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 brokerages that have issued ratings on the stock in the last year is $140.86.

PHM has been the topic of a number of research reports. Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company decreased their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Oppenheimer lowered their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, Barclays reduced their price objective 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.

PulteGroup Stock Performance

PHM opened at $101.05 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.29 and a beta of 1.44. The company has a fifty day moving average of $106.12 and a 200 day moving average of $119.92. PulteGroup has a fifty-two week low of $95.14 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, sell-side analysts forecast that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. PulteGroup’s payout ratio is 5.98%.

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

Insider Transactions at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the transaction, the vice president now directly owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred 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. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently made changes to their positions in PHM. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup in the fourth quarter valued at about $29,000. Fortitude Family Office LLC raised its holdings in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of PulteGroup in the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. boosted its stake in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. Finally, R Squared Ltd purchased a new position in PulteGroup during the fourth quarter valued at approximately $39,000. 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.