PulteGroup (NYSE:PHM) Price Target Raised to $120.00 at Royal Bank of Canada

PulteGroup (NYSE:PHM) had its price objective increased by Royal Bank of Canada from $113.00 to $120.00 in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Bank of America increased their price target on PulteGroup from $135.00 to $138.00 and gave the company a buy rating in a report on Monday, July 22nd. BTIG Research increased their price target on PulteGroup from $133.00 to $139.00 and gave the company a buy rating in a report on Wednesday. Citigroup lowered their price target on PulteGroup from $129.00 to $117.00 and set a neutral rating on the stock in a report on Tuesday, July 2nd. Zelman & Associates raised PulteGroup from a neutral rating to an outperform rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their target price on PulteGroup from $126.00 to $131.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, PulteGroup currently has an average rating of Moderate Buy and a consensus target price of $133.14.

PulteGroup Stock Performance

Shares of PHM opened at $129.99 on Wednesday. The business’s fifty day simple moving average is $114.31 and its two-hundred day simple moving average is $111.56. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. PulteGroup has a 12 month low of $68.80 and a 12 month high of $130.93. The company has a market cap of $26.98 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.54 and a beta of 1.61.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the business posted $3.00 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that PulteGroup will post 12.81 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. PulteGroup’s dividend payout ratio is presently 6.41%.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lebenthal Global Advisors LLC raised its holdings in PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares during the period. First Horizon Advisors Inc. grew its position in shares of PulteGroup by 2.9% during the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock valued at $371,000 after purchasing an additional 100 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in shares of PulteGroup by 2.0% during the first quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after purchasing an additional 101 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of PulteGroup by 4.9% during the first quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock valued at $269,000 after purchasing an additional 103 shares in the last quarter. Finally, Patten Group Inc. grew its position in shares of PulteGroup by 2.9% during the second quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after purchasing an additional 109 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

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.