PulteGroup (NYSE:PHM) Price Target Increased to $131.00 by Analysts at Jefferies Financial Group

PulteGroup (NYSE:PHM) had its price target lifted by Jefferies Financial Group from $126.00 to $131.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research analysts also recently commented on the company. Barclays increased their price target on PulteGroup from $126.00 to $136.00 and gave the company an overweight rating in a report on Thursday, April 4th. Wedbush reissued a neutral rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Raymond James increased their price target on PulteGroup from $100.00 to $120.00 and gave the company an outperform rating in a report on Monday, February 5th. Citigroup upped their price objective on PulteGroup from $116.00 to $127.00 and gave the company a neutral rating in a research note on Friday, April 5th. Finally, Zelman & Associates upgraded PulteGroup from a neutral rating to an outperform rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $111.73.

PulteGroup Price Performance

Shares of NYSE PHM opened at $113.80 on Wednesday. PulteGroup has a 1-year low of $64.70 and a 1-year high of $121.07. The business has a 50-day moving average of $111.28 and a 200-day moving average of $99.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. The company has a market capitalization of $23.94 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.51 and a beta of 1.56.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. PulteGroup’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.63 earnings per share. On average, equities analysts anticipate that PulteGroup will post 12.28 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is 6.41%.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by insiders.

Institutional Trading of PulteGroup

Large investors have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in PulteGroup in the 1st quarter valued at approximately $26,000. Arlington Trust Co LLC acquired a new stake in PulteGroup in the 3rd quarter valued at approximately $33,000. Baystate Wealth Management LLC increased its position in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after acquiring an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in PulteGroup in the 3rd quarter valued at approximately $36,000. Finally, Rakuten Securities Inc. bought a new position in PulteGroup during the 4th quarter valued at $37,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.