PulteGroup (NYSE:PHM) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of PulteGroup (NYSE:PHM) in a research note released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $170.00 price target on the construction company’s stock.

PHM has been the topic of several other reports. Barclays set a $115.00 price objective on PulteGroup in a research note on Monday, December 8th. JPMorgan Chase & Co. cut their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Oppenheimer restated an “outperform” rating and issued a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Citigroup lifted their price objective on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a research note on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Price Performance

PHM stock opened at $132.33 on Wednesday. PulteGroup has a 52 week low of $88.07 and a 52 week high of $144.49. The firm has a market capitalization of $25.45 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32. The company has a fifty day simple moving average of $130.22 and a two-hundred day simple moving average of $127.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio (DPR) is 9.35%.

Insider Activity

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This represents a 26.07% 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 14,220 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PHM. Golden State Wealth Management LLC raised its position in PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after purchasing an additional 75 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after buying an additional 78 shares during the period. Stephens Inc. AR increased its stake in shares of PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after buying an additional 80 shares during the period. Fidelis Capital Partners LLC raised its holdings in shares of PulteGroup by 1.0% in the second quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after acquiring an additional 85 shares in the last quarter. Finally, Apella Capital LLC lifted its stake in PulteGroup by 4.2% in the third quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after acquiring an additional 87 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.