PulteGroup, Inc. (NYSE:PHM) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• PulteGroup has a consensus analyst rating of “Moderate Buy”, based on coverage from 17 analysts: 10 buy ratings and 7 hold ratings. The average 1-year price target is about $140.71.
• The company recently reported $1.79 EPS on $3.41 billion in revenue, narrowly missing earnings expectations while slightly beating revenue estimates. Revenue fell 12.4% from the same quarter a year ago.
• PulteGroup announced a quarterly dividend of $0.26 per share and authorized a $1.5 billion share repurchase plan, which could buy back up to 6.1% of outstanding shares.

Shares of PulteGroup, Inc. (NYSE:PHM - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $140.7143.

A number of equities analysts have weighed in on the company. Seaport Research Partners restated a "sell" rating and issued a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 3rd. Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Barclays decreased their target price on PulteGroup from $115.00 to $112.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company increased their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 24th.

PulteGroup Price Performance

Shares of NYSE PHM opened at $117.80 on Wednesday. The firm has a market capitalization of $22.44 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock's 50-day simple moving average is $119.03 and its two-hundred day simple moving average is $124.03. PulteGroup has a twelve month low of $96.46 and a twelve month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.PulteGroup's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 earnings per share. As a group, equities analysts anticipate that PulteGroup will post 10 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup's dividend payout ratio is 10.06%.

PulteGroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, Director Lila Snyder sold 3,339 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $117.18, for a total transaction of $391,264.02. Following the transaction, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. This represents a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew William Koart sold 7,457 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total value of $894,840.00. Following the transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PulteGroup

Several institutional investors have recently modified their holdings of PHM. Nordea Investment Management AB boosted its holdings in PulteGroup by 2.4% during the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company's stock valued at $67,387,000 after acquiring an additional 13,259 shares during the period. Principal Financial Group Inc. boosted its holdings in PulteGroup by 24.2% during the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company's stock valued at $41,348,000 after acquiring an additional 61,009 shares during the period. Dorato Capital Management purchased a new stake in PulteGroup during the 4th quarter valued at about $2,625,000. Concurrent Investment Advisors LLC boosted its holdings in PulteGroup by 166.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 16,753 shares of the construction company's stock valued at $1,964,000 after acquiring an additional 10,467 shares during the period. Finally, EFG Asset Management Americas Corp. boosted its holdings in PulteGroup by 351.9% during the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company's stock valued at $6,177,000 after acquiring an additional 36,407 shares during the period. 89.90% of the stock is currently owned by institutional investors.

About PulteGroup

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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.