Wedbush began coverage on shares of PulteGroup Inc. (NYSE:PHM) in a research report released on Monday morning. The firm issued an underperform rating and a $16.00 target price on the stock.

Analyst Recommendations for PulteGroup (NYSE:PHM)

PHM has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on PulteGroup from $23.00 to $26.00 and gave the stock an outperform rating in a research note on Friday, July 22nd. Deutsche Bank AG reiterated a buy rating and set a $27.00 target price on shares of PulteGroup in a research report on Thursday, September 15th. FBR & Co lifted their target price on PulteGroup from $20.00 to $24.00 and gave the company a market perform rating in a research report on Friday, July 22nd. MKM Partners reiterated a hold rating on shares of PulteGroup in a research report on Wednesday, June 8th. Finally, RBC Capital Markets reiterated an outperform rating and set a $26.00 target price (up from $23.00) on shares of PulteGroup in a research report on Sunday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of C$20.13.

PulteGroup (NYSE:PHM) opened at 19.87 on Monday. The stock’s 50 day moving average price is $20.98 and its 200 day moving average price is $19.43. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 13.08 and a beta of 1.59. PulteGroup has a 12 month low of $14.61 and a 12 month high of $22.40.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.66 billion. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. Equities research analysts anticipate that PulteGroup will post $1.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend 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 23.68%.

In related news, EVP Steven M. Cook sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 261,626 shares in the company, valued at C$5,771,469.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Harmon D. Smith sold 53,582 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of C$22.05, for a total value of C$1,181,483.10. Following the completion of the sale, the chief operating officer now owns 313,628 shares of the company’s stock, valued at approximately C$6,915,497.40. The disclosure for this sale can be found here. 1.83% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in PulteGroup by 69.4% in the first quarter. IFP Advisors Inc now owns 5,507 shares of the company’s stock worth $103,000 after buying an additional 2,257 shares in the last quarter. First Quadrant L P CA bought a new stake in PulteGroup during the second quarter worth $109,000. Levin Capital Strategies L.P. bought a new stake in PulteGroup during the second quarter worth $195,000. Private Advisor Group LLC bought a new stake in PulteGroup during the second quarter worth $201,000. Finally, Chartist Inc. CA bought a new stake in PulteGroup during the second quarter worth $202,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About PulteGroup

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.

5 Day Chart for NYSE:PHM

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