Analysts at Wells Fargo & Co. started coverage on shares of PulteGroup Inc. (NYSE:PHM) in a report released on Wednesday. The brokerage set a “market perform” rating on the stock.
Several other equities research analysts also recently commented on PHM. Deutsche Bank AG restated a “hold” rating on shares of PulteGroup in a research report on Wednesday, June 8th. MKM Partners restated a “hold” rating on shares of PulteGroup in a research report on Wednesday, June 8th. Credit Suisse Group AG restated a “sell” rating on shares of PulteGroup in a research report on Tuesday, June 28th. TheStreet upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th. Finally, FBR & Co upped their price target on shares of PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of C$20.13.
Shares of PulteGroup (NYSE:PHM) opened at 19.81 on Wednesday. PulteGroup has a 12 month low of $14.61 and a 12 month high of $22.40. The company’s 50-day moving average is $20.64 and its 200-day moving average is $19.51. The stock has a market capitalization of $6.81 billion, a PE ratio of 13.04 and a beta of 1.59.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business earned $1.80 billion during the quarter, compared to the consensus estimate of $1.66 billion. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities research analysts expect that PulteGroup will post $1.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.36 annualized dividend and a yield of 1.82%. PulteGroup’s dividend payout ratio is 23.68%.
In other news, VP James L. Ossowski sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the completion of the transaction, the vice president now directly owns 51,880 shares of the company’s stock, valued at approximately C$1,037,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven M. Cook sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of C$22.06, for a total transaction of C$441,200.00. Following the transaction, the executive vice president now directly owns 261,626 shares of the company’s stock, valued at C$5,771,469.56. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in PulteGroup by 69.4% in the first quarter. IFP Advisors Inc now owns 5,507 shares of the company’s stock worth $103,000 after buying an additional 2,257 shares during the last quarter. First Quadrant L P CA acquired a new position in PulteGroup during the second quarter worth approximately $109,000. Levin Capital Strategies L.P. acquired a new position in PulteGroup during the second quarter worth approximately $195,000. Private Advisor Group LLC acquired a new position in PulteGroup during the second quarter worth approximately $201,000. Finally, Chartist Inc. CA acquired a new position in PulteGroup during the second quarter worth approximately $202,000. 89.08% of the stock is owned by institutional investors.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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