PulteGroup (PHM) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of PulteGroup (NYSE:PHM) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Shares of PulteGroup have gained 81% in the last one year, outperforming the industry. This price performance is backed by impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in all of the past four quarters. PulteGroup will continue to benefit from its value-creation strategy as it focuses on generating solid returns, with balanced approach across its portfolio and capital allocation plans. Prudent land investments, new value creation initiatives and solid cash position bode well. Continued favorable trends in the economy, job growth, demographics and consumer confidence can more than offset the impact of modestly higher rates, allowing the housing recovery to continue at a steady pace. However, labor shortages and gross margin compression due to rising land, labor and material costs might keep the housing momentum in check.”
A number of other research analysts have also recently weighed in on the stock. Credit Suisse Group set a $35.00 price objective on shares of PulteGroup and gave the company a buy rating in a report on Tuesday, October 24th. Citigroup cut shares of PulteGroup from a neutral rating to a sell rating and set a $26.00 price objective for the company. in a report on Friday, October 20th. Buckingham Research cut shares of PulteGroup from a buy rating to a neutral rating and lifted their price objective for the company from $31.00 to $33.00 in a report on Sunday, November 26th. KeyCorp reiterated a hold rating on shares of PulteGroup in a report on Wednesday, November 1st. Finally, Royal Bank of Canada boosted their price target on shares of PulteGroup from $28.00 to $33.00 and gave the stock an outperform rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $31.38.
Shares of PulteGroup (PHM) traded down $0.44 during mid-day trading on Thursday, hitting $33.83. 4,755,900 shares of the company were exchanged, compared to its average volume of 3,996,634. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $10,100.00, a PE ratio of 16.58, a P/E/G ratio of 0.72 and a beta of 1.21. PulteGroup has a 52-week low of $18.24 and a 52-week high of $34.60.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. equities analysts forecast that PulteGroup will post 2.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, December 11th. PulteGroup’s dividend payout ratio (DPR) is presently 17.65%.
In other news, CFO Robert Oshaughnessy sold 92,800 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the completion of the sale, the chief financial officer now owns 363,722 shares in the company, valued at approximately $12,326,538.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James R. Ellinghausen sold 136,912 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the sale, the insider now owns 294,369 shares of the company’s stock, valued at approximately $8,742,759.30. The disclosure for this sale can be found here. Insiders have sold a total of 297,202 shares of company stock valued at $9,394,580 in the last quarter. 0.71% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Flinton Capital Management LLC lifted its position in shares of PulteGroup by 0.4% during the 2nd quarter. Flinton Capital Management LLC now owns 12,288 shares of the construction company’s stock worth $302,000 after buying an additional 48 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of PulteGroup by 3.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after buying an additional 148 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of PulteGroup by 1.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 13,673 shares of the construction company’s stock worth $336,000 after buying an additional 159 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of PulteGroup by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,722 shares of the construction company’s stock worth $263,000 after buying an additional 230 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its position in shares of PulteGroup by 68.5% during the 2nd quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock worth $1,017,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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