PulteGroup (NYSE:PHM) Given New $151.00 Price Target at UBS Group

PulteGroup (NYSE:PHM) had its price objective boosted by UBS Group from $148.00 to $151.00 in a report issued on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Several other research firms have also weighed in on PHM. Wells Fargo & Company lowered their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Evercore ISI dropped their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Price Performance

Shares of PHM stock opened at $113.73 on Friday. The firm has a market cap of $23.32 billion, a P/E ratio of 8.39, a P/E/G ratio of 0.49 and a beta of 1.67. The firm has a fifty day moving average of $118.03 and a two-hundred day moving average of $127.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. As a group, research analysts anticipate that PulteGroup will post 13.06 earnings per share for the current fiscal year.

PulteGroup declared that its board has approved a stock buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.77%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is presently 6.49%.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Global Retirement Partners LLC raised its stake in shares of PulteGroup by 18.7% in the 4th quarter. Global Retirement Partners LLC now owns 3,242 shares of the construction company’s stock worth $353,000 after buying an additional 510 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in PulteGroup by 98.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,209 shares of the construction company’s stock worth $1,330,000 after acquiring an additional 6,065 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in PulteGroup by 7.9% in the 4th quarter. Kestra Investment Management LLC now owns 1,923 shares of the construction company’s stock valued at $209,000 after acquiring an additional 141 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of PulteGroup by 31.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,000 shares of the construction company’s stock valued at $1,417,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of PulteGroup by 1.5% in the 4th quarter. Venturi Wealth Management LLC now owns 15,890 shares of the construction company’s stock worth $1,730,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.