PulteGroup (NYSE:PHM) Earns Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of PulteGroup (NYSE:PHM) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $115.00 target price on the construction company’s stock. Wedbush also issued estimates for PulteGroup’s FY2024 earnings at $13.03 EPS, Q1 2025 earnings at $3.04 EPS, Q2 2025 earnings at $3.50 EPS, Q3 2025 earnings at $3.75 EPS, Q4 2025 earnings at $4.11 EPS, FY2025 earnings at $14.39 EPS and Q2 2026 earnings at $3.85 EPS.

Several other equities research analysts have also issued reports on PHM. Barclays raised their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Evercore ISI boosted their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Citigroup decreased their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Oppenheimer lifted their target price on PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Trading Up 2.0 %

Shares of NYSE PHM opened at $135.84 on Tuesday. PulteGroup has a 1-year low of $70.21 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.76. The business’s 50 day moving average is $136.67 and its two-hundred day moving average is $122.95. The stock has a market capitalization of $28.19 billion, a P/E ratio of 10.02, a PEG ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS. As a group, research analysts expect that PulteGroup will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s payout ratio is 5.90%.

Insiders Place Their Bets

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on 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 transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on 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 approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

A number of institutional investors have recently made changes to their positions in the business. Greenhaven Associates Inc. raised its stake in PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Hsbc Holdings PLC boosted its stake in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares in the last quarter. Captrust Financial Advisors grew its position in PulteGroup by 18.4% during the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after purchasing an additional 168,746 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in PulteGroup by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock valued at $106,183,000 after purchasing an additional 53,924 shares in the last quarter. Institutional investors and hedge funds 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.