FBR & Co Reaffirms Marketperform Rating for PulteGroup Inc. (PHM)
Several other research analysts also recently commented on PHM. Wells Fargo & Co. assumed coverage on PulteGroup in a research note on Wednesday, September 28th. They set a market perform rating for the company. Zacks Investment Research downgraded PulteGroup from a buy rating to a hold rating in a research note on Tuesday, September 27th. Wedbush assumed coverage on PulteGroup in a research note on Monday, September 19th. They set an underperform rating and a $16.00 target price for the company. Deutsche Bank AG reissued a buy rating and set a $27.00 target price on shares of PulteGroup in a research note on Thursday, September 15th. Finally, RBC Capital Markets reissued an outperform rating and set a $26.00 target price (up previously from $23.00) on shares of PulteGroup in a research note on Sunday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. PulteGroup presently has an average rating of Hold and an average target price of C$20.13.
PulteGroup (NYSE:PHM) opened at 20.04 on Thursday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 13.19 and a beta of 1.50. The company’s 50-day moving average is $20.57 and its 200 day moving average is $19.55. PulteGroup has a 1-year low of $14.61 and a 1-year high of $22.40.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The business earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. PulteGroup’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts predict that PulteGroup will post $1.61 EPS for the current fiscal year.
The company also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, September 16th. PulteGroup’s dividend payout ratio is currently 23.68%.
In related news, EVP Steven M. Cook sold 20,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 261,626 shares in the company, valued at approximately C$5,771,469.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James L. Ossowski sold 10,000 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total value of C$200,000.00. Following the completion of the transaction, the vice president now owns 51,880 shares in the company, valued at C$1,037,600. The disclosure for this sale can be found here. 1.83% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Wexford Capital LP purchased a new position in shares of PulteGroup during the first quarter worth about $3,843,000. Aviva PLC boosted its position in shares of PulteGroup by 0.3% in the first quarter. Aviva PLC now owns 145,973 shares of the company’s stock worth $2,731,000 after buying an additional 476 shares in the last quarter. M&T Bank Corp boosted its position in shares of PulteGroup by 11.7% in the first quarter. M&T Bank Corp now owns 25,280 shares of the company’s stock worth $473,000 after buying an additional 2,654 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of PulteGroup during the first quarter worth about $354,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of PulteGroup by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,667,707 shares of the company’s stock worth $180,883,000 after buying an additional 36,785 shares in the last quarter. Institutional investors own 89.08% 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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