PulteGroup (NYSE:PHM) Price Target Raised to $125.00

PulteGroup (NYSE:PHM - Free Report) had its target price raised by Wells Fargo & Company from $120.00 to $125.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the construction company's stock.

A number of other research firms have also weighed in on PHM. Royal Bank Of Canada cut their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays cut their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI upped their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $135.08.

PulteGroup Stock Down 0.8%

NYSE:PHM traded down $0.89 during trading hours on Tuesday, reaching $114.29. The company's stock had a trading volume of 2,650,443 shares, compared to its average volume of 2,042,802. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.33 and a beta of 1.29. PulteGroup has a one year low of $88.07 and a one year high of $149.47. The business's 50-day moving average is $103.47 and its 200-day moving average is $104.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.80 and a quick ratio of 0.80.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. During the same period in the prior year, the company posted $3.10 earnings per share. Equities research analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. PulteGroup's payout ratio is currently 6.21%.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. WPG Advisers LLC bought a new stake in PulteGroup in the first quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in PulteGroup in the fourth quarter valued at about $37,000. TD Waterhouse Canada Inc. increased its stake in PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after acquiring an additional 105 shares during the period. American National Bank & Trust bought a new stake in PulteGroup in the first quarter valued at about $39,000. Finally, Quarry LP bought a new stake in PulteGroup in the fourth quarter valued at about $43,000. Institutional investors own 89.90% of the company's stock.

About PulteGroup

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, John Wieland Homes and Neighborhoods, and American West brand names.