PulteGroup, Inc. (NYSE:PHM) Stock Has Consensus Price Target of $140.12

PulteGroup, Inc. (NYSE:PHM) has received an average rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $138.94.

PHM has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of PulteGroup from $124.00 to $110.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Piper Sandler downgraded PulteGroup to a “hold” rating and set a $145.00 target price on the stock. in a research report on Thursday. The Goldman Sachs Group set a $138.00 target price on PulteGroup in a report on Monday. Finally, Wells Fargo & Company dropped their target price on PulteGroup from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, September 11th.

PulteGroup Stock Performance

Shares of PHM stock opened at $111.05 on Tuesday. PulteGroup has a 12 month low of $108.49 and a 12 month high of $144.49. The company’s fifty day simple moving average is $122.88 and its 200-day simple moving average is $122.91. The firm has a market cap of $20.82 billion, a PE ratio of 11.34, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm earned $3.03 earnings per share. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities research analysts expect that PulteGroup will post 10.08 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is 10.62%.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC lifted its holdings in shares of PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. NFSG Corp acquired a new stake in shares of PulteGroup in the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC grew its holdings in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Evelyn Partners Investment Management Services Ltd bought a new stake in shares of PulteGroup during the 1st quarter valued at approximately $37,000. Finally, Mcdonald Partners LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at approximately $43,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.