A number of other brokerages have also issued reports on PHM. Royal Bank of Canada lowered shares of PulteGroup from an outperform rating to a sector perform rating and dropped their price objective for the company from $56.00 to $41.00 in a report on Wednesday, June 22nd. JPMorgan Chase & Co. lowered their target price on shares of PulteGroup from $51.00 to $49.50 and set an overweight rating for the company in a research note on Tuesday, July 12th. UBS Group lowered their price objective on shares of PulteGroup from $73.00 to $55.00 and set a buy rating for the company in a research note on Thursday, June 16th. Bank of America lowered shares of PulteGroup from a buy rating to a neutral rating and raised their price objective for the company from $41.00 to $48.00 in a research note on Wednesday. Finally, Credit Suisse Group assumed coverage on shares of PulteGroup in a report on Tuesday, April 5th. They issued an outperform rating and a $52.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $51.21.
PulteGroup Price Performance
NYSE:PHM traded down $0.62 during trading hours on Thursday, reaching $43.04. 71,359 shares of the company were exchanged, compared to its average volume of 2,968,732. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $42.51 and its 200-day moving average is $45.30. The firm has a market cap of $10.23 billion, a PE ratio of 5.33, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33. PulteGroup has a twelve month low of $35.03 and a twelve month high of $58.09.
PulteGroup Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. PulteGroup’s payout ratio is currently 7.35%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of PulteGroup by 5.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 106,599 shares of the construction company’s stock valued at $6,093,000 after acquiring an additional 5,090 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in PulteGroup by 88.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,177,148 shares of the construction company’s stock worth $67,285,000 after acquiring an additional 553,252 shares during the period. Bivin & Associates Inc. purchased a new position in PulteGroup in the 4th quarter worth approximately $99,000. Xponance Inc. boosted its stake in shares of PulteGroup by 4.9% during the 4th quarter. Xponance Inc. now owns 58,548 shares of the construction company’s stock valued at $3,347,000 after buying an additional 2,727 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of PulteGroup by 10.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 4,369 shares of the construction company’s stock valued at $183,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.
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, American West, and John Wieland Homes and Neighborhoods brand names.
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