Deutsche Bank AG Reaffirms Buy Rating for PulteGroup Inc. (PHM)
PHM has been the topic of a number of other reports. TheStreet upgraded PulteGroup from a hold rating to a buy rating in a research report on Tuesday, June 28th. MKM Partners restated a hold rating on shares of PulteGroup in a research report on Wednesday, June 8th. Credit Suisse Group AG restated a sell rating on shares of PulteGroup in a research report on Tuesday, June 28th. Royal Bank Of Canada boosted their price objective on PulteGroup from $23.00 to $26.00 and gave the company an outperform rating in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. upgraded PulteGroup from a neutral rating to an overweight rating and set a $26.00 price objective on the stock in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. PulteGroup currently has an average rating of Hold and an average price target of C$20.13.
Shares of PulteGroup (NYSE:PHM) opened at 19.87 on Thursday. The company’s 50 day moving average is $20.98 and its 200-day moving average is $19.43. PulteGroup has a 52 week low of $14.61 and a 52 week high of $22.40. The company has a market capitalization of $6.83 billion, a PE ratio of 13.08 and a beta of 1.59.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that PulteGroup will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, September 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. PulteGroup’s payout ratio is presently 23.68%.
In related news, VP James L. Ossowski sold 10,000 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the completion of the transaction, the vice president now directly owns 51,880 shares in the company, valued at C$1,037,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven M. Cook sold 20,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$22.06, for a total value of C$441,200.00. Following the transaction, the executive vice president now owns 261,626 shares of the company’s stock, valued at C$5,771,469.56. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PHM. Credit Suisse AG increased its position in PulteGroup by 925.7% in the second quarter. Credit Suisse AG now owns 12,969,345 shares of the company’s stock worth $252,772,000 after buying an additional 11,704,936 shares in the last quarter. Boston Partners increased its position in PulteGroup by 53.9% in the second quarter. Boston Partners now owns 25,047,967 shares of the company’s stock worth $488,185,000 after buying an additional 8,773,436 shares in the last quarter. Norges Bank bought a new position in PulteGroup during the fourth quarter worth $50,019,000. Dimensional Fund Advisors LP increased its position in PulteGroup by 26.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,166,771 shares of the company’s stock worth $198,134,000 after buying an additional 2,132,979 shares in the last quarter. Finally, BB&T Securities LLC increased its position in PulteGroup by 7,606.5% in the first quarter. BB&T Securities LLC now owns 1,917,538 shares of the company’s stock worth $35,877,000 after buying an additional 1,892,656 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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