PulteGroup (NYSE:PHM) Given New $150.00 Price Target at UBS Group

PulteGroup (NYSE:PHM - Free Report) had its target price lifted by UBS Group from $141.00 to $150.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company's stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup boosted their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays decreased their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada boosted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Stock Down 0.6%

PHM stock traded down $0.65 during midday trading on Wednesday, hitting $115.39. The company's stock had a trading volume of 595,817 shares, compared to its average volume of 2,194,437. The company has a market cap of $22.77 billion, a PE ratio of 8.62, a P/E/G ratio of 0.35 and a beta of 1.29. PulteGroup has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a current ratio of 0.77, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $105.14 and its 200-day moving average is $105.03.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The firm's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 EPS. On average, equities research analysts forecast that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, June 17th. PulteGroup's payout ratio is currently 6.21%.

Institutional Trading of PulteGroup

Institutional investors and hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC raised its stake in shares of PulteGroup by 20.5% during the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock valued at $1,582,000 after acquiring an additional 2,613 shares in the last quarter. Vest Financial LLC lifted its position in PulteGroup by 1,311.3% during the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after purchasing an additional 290,564 shares during the period. Hudson Capital Management LLC lifted its position in PulteGroup by 8.6% during the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after purchasing an additional 3,266 shares during the period. NBC Securities Inc. lifted its position in PulteGroup by 103,800.0% during the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock valued at $534,000 after purchasing an additional 5,190 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of PulteGroup by 15.9% in the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock worth $93,000 after acquiring an additional 125 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Company Profile

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.