PulteGroup (NYSE:PHM) Price Target Raised to $113.00 at Royal Bank of Canada

PulteGroup (NYSE:PHM) had its target price upped by Royal Bank of Canada from $106.00 to $113.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a sector perform rating on the construction company’s stock.

A number of other brokerages have also weighed in on PHM. Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the stock an outperform rating in a research note on Wednesday. Barclays increased their target price on PulteGroup from $126.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Raymond James increased their target price on PulteGroup from $100.00 to $120.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Zelman & Associates upgraded PulteGroup from a neutral rating to an outperform rating in a research note on Wednesday. Finally, StockNews.com lowered PulteGroup from a buy rating to a hold rating in a research note on Saturday, March 2nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $111.73.

PulteGroup Price Performance

NYSE:PHM opened at $113.80 on Wednesday. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 0.53 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup has a 12-month low of $64.70 and a 12-month high of $121.07. The stock’s 50 day moving average price is $111.28 and its two-hundred day moving average price is $99.59.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.63 earnings per share. On average, analysts anticipate that PulteGroup will post 12.66 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. 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 dividend payout ratio is presently 6.41%.

PulteGroup announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction 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 owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in PulteGroup by 2.9% during the 4th quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after acquiring an additional 100 shares during the last quarter. Global Retirement Partners LLC grew its position in PulteGroup by 4.9% during the 1st quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock worth $269,000 after acquiring an additional 103 shares during the last quarter. Aprio Wealth Management LLC grew its position in PulteGroup by 3.1% during the 4th quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after acquiring an additional 107 shares during the last quarter. NBC Securities Inc. grew its position in PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock worth $575,000 after acquiring an additional 112 shares during the last quarter. Finally, KMG Fiduciary Partners LLC grew its position in PulteGroup by 4.1% during the 4th quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock worth $320,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

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.