PulteGroup's (PHM) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial restated their outperform rating on shares of PulteGroup (NYSE:PHM - Free Report) in a report published on Wednesday,Benzinga reports. Raymond James Financial currently has a $140.00 price target on the construction company's stock, up from their previous price target of $115.00.

Other research analysts have also issued research reports about the company. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday. 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 note on Wednesday, April 23rd. Finally, Royal Bank Of Canada upped their price target on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Stock Performance

NYSE:PHM traded down $1.08 during trading hours on Wednesday, reaching $114.95. The stock had a trading volume of 415,041 shares, compared to its average volume of 2,192,898. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.77. The stock has a 50 day simple moving average of $105.14 and a 200 day simple moving average of $105.03. PulteGroup has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market cap of $22.68 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.29.

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

PulteGroup Announces Dividend

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

Institutional Trading of PulteGroup

Large investors have recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in PulteGroup during the fourth quarter valued at $73,000. TD Private Client Wealth LLC lifted its position in PulteGroup by 11.0% during the fourth quarter. TD Private Client Wealth LLC now owns 2,064 shares of the construction company's stock valued at $225,000 after buying an additional 205 shares during the period. LPL Financial LLC lifted its position in PulteGroup by 11.2% during the 4th quarter. LPL Financial LLC now owns 390,579 shares of the construction company's stock valued at $42,534,000 after acquiring an additional 39,321 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of PulteGroup by 4.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,647 shares of the construction company's stock valued at $3,555,000 after purchasing an additional 1,473 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in PulteGroup during the fourth quarter valued at $730,000. 89.90% of the stock is owned by institutional investors.

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.