PulteGroup, Inc. (NYSE:PHM) Stock Has Average Price Target of $137.24

Key Points

• Analyst sentiment is moderately bullish: Twenty-one analysts give PulteGroup a consensus “Moderate Buy” rating, with an average 12-month price target of $137.24.
• Recent results fell short of expectations: Quarterly earnings were $2.53 per share versus the $2.63 consensus estimate, while revenue declined 9.8% year over year to $3.97 billion.
• PulteGroup maintains shareholder support: The company pays a $0.26 quarterly dividend, representing a 0.8% yield, and institutional investors own approximately 89.9% of its stock.

Shares of PulteGroup, Inc. (NYSE:PHM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $137.24.

PHM has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price target on shares of PulteGroup from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Friday, October 23rd. Truist Financial reduced their target price on shares of PulteGroup from $145.00 to $136.00 and set a "buy" rating for the company in a research note on Wednesday, September 16th. Wells Fargo & Company decreased their target price on shares of PulteGroup from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Friday, September 11th. Weiss Ratings raised shares of PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 16th. Finally, Piper Sandler downgraded shares of PulteGroup to a "hold" rating and set a $145.00 price target on the stock. in a report on Thursday, October 8th.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $124.80 on Friday. The company's fifty day moving average is $119.29 and its two-hundred day moving average is $124.18. The company has a market cap of $22.97 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.16. PulteGroup has a 12-month low of $107.15 and a 12-month high of $144.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Thursday, October 22nd. The construction company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business earned $2.96 EPS. The business's quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts expect that PulteGroup will post 9.51 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. PulteGroup's dividend payout ratio is currently 11.11%.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. State Street Corp lifted its position in PulteGroup by 3.2% during the 2nd quarter. State Street Corp now owns 9,174,111 shares of the construction company's stock valued at $1,261,092,000 after purchasing an additional 288,054 shares during the period. First Trust Advisors LP boosted its stake in shares of PulteGroup by 7.8% in the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company's stock valued at $507,428,000 after purchasing an additional 313,581 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of PulteGroup by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company's stock worth $370,008,000 after buying an additional 26,790 shares during the period. Bank of America Corp DE grew its position in shares of PulteGroup by 4.3% during the 1st quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company's stock worth $230,889,000 after buying an additional 80,352 shares during the period. Finally, Amundi grew its position in shares of PulteGroup by 28.6% during the 1st quarter. Amundi now owns 1,438,508 shares of the construction company's stock worth $169,183,000 after buying an additional 319,617 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Company Profile

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.