PulteGroup (NYSE:PHM) Stock Gets Price Target Reduction from Royal Bank Of Canada

PulteGroup (NYSE:PHM) had its price objective lowered by Royal Bank Of Canada from $116.00 to $111.00 in a report published on Thursday,Benzinga reports. The firm currently has a sector perform rating on the construction company’s stock.

Several other brokerages also recently issued reports on PHM. Melius Research assumed coverage on shares of PulteGroup in a research report on Tuesday, October 6th. They set a “hold” rating and a $132.00 price target on the stock. Barclays decreased their price objective on shares of PulteGroup from $124.00 to $110.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. The Goldman Sachs Group set a $138.00 price objective on shares of PulteGroup in a research report on Monday, October 12th. Piper Sandler downgraded shares of PulteGroup to a “hold” rating and set a $145.00 target price for the company. in a research note on Thursday, October 8th. Finally, UBS Group reaffirmed a “buy” rating and issued a $166.00 target price on shares of PulteGroup in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

PulteGroup Trading Up 0.3%

PHM stock opened at $113.38 on Thursday. The business has a fifty day moving average price of $121.28 and a 200 day moving average price of $122.73. PulteGroup has a fifty-two week low of $107.15 and a fifty-two week high of $144.49. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company posted $3.03 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts expect that PulteGroup will post 10.06 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

Hedge Funds Weigh In On PulteGroup

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

PulteGroup Company Profile

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.