PulteGroup (NYSE:PHM) Now Covered by Melius Research

Melius Research started coverage on shares of PulteGroup (NYSE:PHM) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $132.00 price objective on the construction company’s stock.

A number of other research analysts have also issued reports on the company. Royal Bank Of Canada boosted their target price on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Benchmark raised PulteGroup to a “strong-buy” rating in a report on Thursday, September 3rd. Truist Financial lowered their price objective on shares of PulteGroup from $145.00 to $136.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Citigroup reissued a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Finally, Barclays cut their price objective on shares of PulteGroup from $124.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.82.

PulteGroup Stock Performance

NYSE PHM opened at $116.12 on Tuesday. The firm has a market cap of $21.77 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.42 and a beta of 1.16. PulteGroup has a 52-week low of $108.49 and a 52-week high of $144.49. The business’s 50-day moving average price is $124.24 and its 200 day moving average price is $123.05. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the business earned $3.03 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts expect that PulteGroup will post 10.07 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 15th. PulteGroup’s dividend payout ratio is 10.62%.

Institutional Trading of PulteGroup

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its position in PulteGroup by 3.2% in the second quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock worth $1,261,092,000 after acquiring an additional 288,054 shares in the last quarter. First Trust Advisors LP boosted its position in shares of PulteGroup by 7.8% during the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock worth $507,428,000 after purchasing an additional 313,581 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PulteGroup by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after purchasing an additional 26,790 shares in the last quarter. Bank of America Corp DE grew its stake in shares of PulteGroup by 4.3% during the 1st quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock worth $230,889,000 after purchasing an additional 80,352 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of PulteGroup during the 2nd quarter worth $189,931,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.