PulteGroup (NYSE:PHM) Upgraded to Outperform by Zelman & Associates

Zelman & Associates upgraded shares of PulteGroup (NYSE:PHM) from a neutral rating to an outperform rating in a report issued on Wednesday morning, Benzinga reports.

A number of other research analysts have also weighed in on PHM. Citigroup raised their target price on PulteGroup from $116.00 to $127.00 and gave the company a neutral rating in a report on Friday, April 5th. UBS Group lowered PulteGroup from a buy rating to a neutral rating and raised their target price for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Wedbush reissued a neutral rating and issued a $85.00 target price on shares of PulteGroup in a research report on Wednesday, January 31st. Finally, StockNews.com cut PulteGroup from a buy rating to a hold rating in a research report on Saturday, March 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of Moderate Buy and an average target price of $111.73.

PulteGroup Trading Up 2.2 %

NYSE PHM opened at $113.80 on Wednesday. The business has a 50 day simple moving average of $111.28 and a 200 day simple moving average of $99.59. PulteGroup has a one year low of $64.70 and a one year high of $121.07. The stock has a market capitalization of $23.94 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86.

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

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Dividend Announcement

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

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently added to or reduced their stakes in PHM. CWM LLC lifted its stake in PulteGroup by 33.3% during the third quarter. CWM LLC now owns 10,449 shares of the construction company’s stock worth $774,000 after purchasing an additional 2,609 shares during the last quarter. AE Wealth Management LLC lifted its stake in PulteGroup by 25.6% during the third quarter. AE Wealth Management LLC now owns 25,237 shares of the construction company’s stock worth $1,869,000 after purchasing an additional 5,140 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in PulteGroup by 11.1% during the third quarter. Exchange Traded Concepts LLC now owns 27,619 shares of the construction company’s stock worth $2,045,000 after purchasing an additional 2,750 shares during the last quarter. Private Trust Co. NA lifted its stake in PulteGroup by 25.0% during the third quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock worth $64,000 after purchasing an additional 172 shares during the last quarter. Finally, Riverwater Partners LLC bought a new stake in PulteGroup during the third quarter worth about $232,000. 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.