PulteGroup (NYSE:PHM) Price Target Lowered to $112.00 at Barclays

PulteGroup (NYSE:PHM) had its target price reduced by Barclays from $115.00 to $112.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a report on Thursday, March 12th. Royal Bank Of Canada lifted their target price on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Citigroup lifted their target price on PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a report on Tuesday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 target price on shares of PulteGroup in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $141.21.

PulteGroup Trading Up 4.5%

Shares of PHM stock opened at $120.28 on Wednesday. PulteGroup has a 12-month low of $88.07 and a 12-month high of $144.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $127.70 and its 200-day moving average price is $125.30. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Insider Activity at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the business’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 sale, the executive vice president directly owned 69,753 shares of the company’s stock, valued at $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the sale, the chief operating officer directly owned 42,418 shares in the company, valued at $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 149,952 shares of company stock valued at $20,162,165 over the last ninety days. 0.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the stock. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $32,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $33,000. Rexford Capital Inc. bought a new position in shares of PulteGroup during the second quarter valued at approximately $35,000. Finally, Private Wealth Management Group LLC grew its stake in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

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.