PulteGroup (NYSE:PHM – Free Report) had its price objective reduced by JPMorgan Chase & Co. from $120.00 to $117.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.
Other research analysts also recently issued research reports about the stock. Barclays dropped their price target on shares of PulteGroup from $104.00 to $95.00 and set an overweight rating on the stock in a research report on Thursday, October 12th. BTIG Research lifted their price objective on shares of PulteGroup from $83.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, July 25th. Raymond James lifted their price objective on shares of PulteGroup from $93.00 to $105.00 and gave the company an outperform rating in a research note on Thursday, July 27th. Oppenheimer lifted their price objective on shares of PulteGroup from $94.00 to $110.00 in a research note on Wednesday, July 26th. Finally, Credit Suisse Group lifted their price objective on shares of PulteGroup from $71.00 to $85.00 in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $89.19.
Read Our Latest Stock Report on PHM
PulteGroup Stock Down 0.9 %
PulteGroup (NYSE:PHM – Get Free Report) last posted its earnings results on Tuesday, October 24th. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.83 by $0.07. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.05 billion. PulteGroup had a net margin of 16.37% and a return on equity of 29.58%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.69 EPS. On average, research analysts anticipate that PulteGroup will post 11.6 earnings per share for the current year.
PulteGroup Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.64 annualized dividend and a dividend yield of 0.90%. PulteGroup’s payout ratio is 5.29%.
Institutional Trading of PulteGroup
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of PulteGroup by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after acquiring an additional 261,934 shares in the last quarter. BlackRock Inc. grew its position in PulteGroup by 10.8% during the second quarter. BlackRock Inc. now owns 20,885,474 shares of the construction company’s stock valued at $1,622,384,000 after buying an additional 2,030,200 shares during the period. Putnam Investments LLC grew its position in PulteGroup by 14.7% during the first quarter. Putnam Investments LLC now owns 11,010,203 shares of the construction company’s stock valued at $641,675,000 after buying an additional 1,406,893 shares during the period. State Street Corp grew its position in PulteGroup by 2.3% during the first quarter. State Street Corp now owns 10,343,160 shares of the construction company’s stock valued at $604,439,000 after buying an additional 228,040 shares during the period. Finally, Greenhaven Associates Inc. grew its position in PulteGroup by 2.6% during the second quarter. Greenhaven Associates Inc. now owns 5,783,350 shares of the construction company’s stock valued at $449,251,000 after buying an additional 144,960 shares during the period. Institutional investors own 89.84% 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, American West, and John Wieland Homes and Neighborhoods brand names.
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