PulteGroup, Inc. (NYSE:PHM) Stock Has Average Target Price of $140.12

Key Points

• Analysts remain moderately bullish: Twenty analysts give PulteGroup a consensus “Moderate Buy” rating, with an average 12-month price target of $140.12 versus the stock’s $113.96 opening price.
• Institutional ownership is substantial: Institutional investors own approximately 89.9% of PulteGroup, with several major funds recently increasing their positions or acquiring new stakes.
• Quarterly results exceeded estimates: PulteGroup reported earnings of $2.48 per share and revenue of $3.98 billion, topping consensus forecasts, though revenue declined 9.6% year over year. The company also maintains a quarterly dividend of $0.26 per share, yielding about 0.9%.

PulteGroup, Inc. (NYSE:PHM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $140.12.

Several equities analysts have commented on PHM shares. Evercore reaffirmed an "outperform" rating on shares of PulteGroup in a research report on Friday, September 25th. Truist Financial lowered 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. Wolfe Research set a $129.00 price target on shares of PulteGroup and gave the stock an "outperform" rating in a report on Monday, August 24th. Citigroup reaffirmed a "market outperform" rating on shares of PulteGroup in a research note on Tuesday, August 18th. Finally, Benchmark upgraded shares of PulteGroup to a "strong-buy" rating in a report on Thursday, September 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in PulteGroup in the second quarter worth $189,931,000. Franklin Resources Inc. lifted its holdings in shares of PulteGroup by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company's stock valued at $1,589,495,000 after purchasing an additional 655,033 shares during the last quarter. Milford Funds Ltd. acquired a new stake in shares of PulteGroup in the 4th quarter worth $68,379,000. Amundi boosted its position in shares of PulteGroup by 28.6% in the 1st quarter. Amundi now owns 1,438,508 shares of the construction company's stock worth $169,183,000 after purchasing an additional 319,617 shares in the last quarter. Finally, First Trust Advisors LP boosted its position 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 worth $507,428,000 after purchasing an additional 313,581 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 1.5%

Shares of NYSE:PHM opened at $113.96 on Tuesday. The firm has a market capitalization of $21.36 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The business has a 50 day simple moving average of $124.62 and a two-hundred day simple moving average of $123.06. PulteGroup has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the business posted $3.03 earnings per share. The company's revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities analysts predict that PulteGroup will post 10.07 EPS for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. PulteGroup's payout ratio is currently 10.62%.

PulteGroup Company Profile

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.

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