Brokerages Set PulteGroup, Inc. (NYSE:PHM) Price Target at $144.14

Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $144.14.

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of PulteGroup from $140.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group cut their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Oppenheimer cut their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

PulteGroup Price Performance

Shares of NYSE PHM opened at $115.66 on Friday. PulteGroup has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $23.72 billion, a PE ratio of 8.53, a P/E/G ratio of 0.46 and a beta of 1.67. The business has a 50-day simple moving average of $119.02 and a two-hundred day simple moving average of $127.26.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.76%. PulteGroup’s payout ratio is presently 6.49%.

Institutional Investors Weigh In On PulteGroup

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in PulteGroup by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after purchasing an additional 585,735 shares during the period. FMR LLC increased its position in shares of PulteGroup by 102.3% in the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after buying an additional 4,571,757 shares in the last quarter. Greenhaven Associates Inc. raised its stake in shares of PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. lifted its position in shares of PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PulteGroup by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after acquiring an additional 135,391 shares during the period. 89.90% of the stock is 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.