PulteGroup (PHM) Rating Increased to Neutral at BTIG Research

BTIG Research upgraded shares of PulteGroup (NYSE:PHM) from a sell rating to a neutral rating in a research report report published on Wednesday, 24/7 WallStreet reports. The brokerage currently has $31.35 price objective on the construction company’s stock.

Several other research firms also recently weighed in on PHM. Credit Suisse Group set a $31.00 price objective on shares of PulteGroup and gave the stock a buy rating in a report on Friday, February 15th. Barclays set a $28.00 price objective on shares of PulteGroup and gave the stock a hold rating in a report on Thursday, March 28th. ValuEngine upgraded shares of PulteGroup from a sell rating to a hold rating in a report on Saturday, February 23rd. Zacks Investment Research upgraded shares of PulteGroup from a sell rating to a hold rating in a report on Wednesday, April 3rd. Finally, Raymond James downgraded shares of PulteGroup from an outperform rating to a market perform rating in a report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $28.53.

Shares of NYSE PHM opened at $31.46 on Wednesday. The firm has a market cap of $8.72 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.38 and a beta of 0.79. PulteGroup has a 12-month low of $20.64 and a 12-month high of $33.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.72.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, April 23rd. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.12. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.93 billion. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. PulteGroup’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities research analysts predict that PulteGroup will post 3.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were issued a $0.11 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.40%. PulteGroup’s dividend payout ratio is currently 12.26%.

In other news, insider Ryan Marshall sold 15,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $27.81, for a total value of $417,150.00. Following the completion of the sale, the insider now owns 453,996 shares in the company, valued at $12,625,628.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in PHM. Burt Wealth Advisors purchased a new stake in shares of PulteGroup in the fourth quarter valued at about $26,000. CSat Investment Advisory L.P. raised its holdings in shares of PulteGroup by 34.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock valued at $38,000 after purchasing an additional 374 shares during the last quarter. Kwmg LLC purchased a new stake in shares of PulteGroup in the first quarter valued at about $45,000. Private Capital Group LLC raised its holdings in shares of PulteGroup by 103.8% in the first quarter. Private Capital Group LLC now owns 1,620 shares of the construction company’s stock valued at $45,000 after purchasing an additional 825 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of PulteGroup by 1,702.0% in the first quarter. Valley National Advisers Inc. now owns 1,838 shares of the construction company’s stock valued at $51,000 after purchasing an additional 1,736 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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