PulteGroup (NYSE:PHM) Given New $165.00 Price Target at Oppenheimer

PulteGroup (NYSE:PHM) had its target price cut by Oppenheimer from $168.00 to $165.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on the company. Raymond James lifted their price target on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays upped their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday. Citigroup reduced their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

Shares of PHM opened at $133.16 on Wednesday. The business’s fifty day moving average is $136.67 and its 200 day moving average is $122.95. PulteGroup has a 12-month low of $68.80 and a 12-month high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market cap of $27.63 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.61 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Sell-side analysts anticipate that PulteGroup will post 12.9 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. PulteGroup’s payout ratio is currently 6.10%.

Insider Buying and Selling

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. WR Wealth Planners LLC boosted its holdings in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the period. LRI Investments LLC purchased a new stake in PulteGroup during the 1st quarter worth about $28,000. Rothschild Investment LLC bought a new position in PulteGroup in the 2nd quarter worth about $31,000. Candriam S.C.A. purchased a new position in PulteGroup during the 2nd quarter valued at about $33,000. Finally, Continuum Advisory LLC increased its position in shares of PulteGroup by 94.5% during the second quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares during the period. 89.90% of the stock is currently owned by hedge funds and other 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.