PulteGroup (NYSE:PHM) Price Target Raised to $152.00 at JPMorgan Chase & Co.

PulteGroup (NYSE:PHM) had its price objective raised by JPMorgan Chase & Co. from $141.00 to $152.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other analysts have also recently issued research reports about the company. Evercore ISI lifted their price objective on PulteGroup from $183.00 to $189.00 and gave the company an outperform rating in a research report on Monday, July 15th. Bank of America lifted their price objective on PulteGroup from $135.00 to $138.00 and gave the company a buy rating in a research report on Monday. BTIG Research lifted their price objective on PulteGroup from $133.00 to $139.00 and gave the company a buy rating in a research report on Wednesday. Jefferies Financial Group lifted their price objective on PulteGroup from $126.00 to $131.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised PulteGroup from a hold rating to a buy rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $129.93.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $124.31 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.61. The stock’s fifty day simple moving average is $114.10 and its 200 day simple moving average is $111.32. PulteGroup has a 52-week low of $68.80 and a 52-week high of $129.85.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 earnings per share. As a group, sell-side analysts forecast that PulteGroup will post 12.68 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were paid a $0.20 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. PulteGroup’s payout ratio is presently 6.41%.

Hedge Funds Weigh In On PulteGroup

Institutional investors have recently made changes to their positions in the business. Blair William & Co. IL increased its stake in shares of PulteGroup by 1.9% in the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares during the period. Certuity LLC bought a new position in PulteGroup during the fourth quarter valued at about $245,000. Banque Cantonale Vaudoise increased its stake in PulteGroup by 166.6% during the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after acquiring an additional 8,215 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in PulteGroup by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock valued at $35,890,000 after purchasing an additional 17,369 shares in the last quarter. Finally, Personal CFO Solutions LLC acquired a new stake in PulteGroup during the fourth quarter valued at approximately $719,000. 89.90% of the stock is currently owned by 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.