PulteGroup (NYSE:PHM) Given New $100.00 Price Target at Barclays

PulteGroup (NYSE:PHM - Free Report) had its target price cut by Barclays from $117.00 to $100.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the construction company's stock.

PHM has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price objective on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a report on Friday, December 13th. StockNews.com downgraded PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. UBS Group raised their price objective on PulteGroup from $148.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Bank of America reduced their target price on PulteGroup from $135.00 to $134.00 and set a "buy" rating for the company in a report on Monday, January 27th. Finally, Wedbush reiterated an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $139.64.

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PulteGroup Stock Up 0.8 %

Shares of PulteGroup stock traded up $0.70 during trading on Tuesday, hitting $94.38. 2,580,035 shares of the stock traded hands, compared to its average volume of 1,988,531. The stock has a market cap of $19.11 billion, a P/E ratio of 6.42, a PEG ratio of 0.29 and a beta of 1.44. The company has a fifty day moving average price of $103.40 and a two-hundred day moving average price of $117.89. PulteGroup has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Equities research analysts predict that PulteGroup will post 12.32 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup's dividend payout ratio is currently 5.98%.

Insider Activity at PulteGroup

In related news, EVP Todd N. Sheldon sold 15,191 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the sale, the executive vice president now owns 74,758 shares of the company's stock, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company's stock, valued at approximately $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last three months. Company insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On PulteGroup

A number of hedge funds have recently modified their holdings of PHM. Franklin Resources Inc. grew its position in PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after acquiring an additional 683,592 shares during the period. Geode Capital Management LLC boosted its stake in shares of PulteGroup by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock valued at $556,465,000 after purchasing an additional 64,947 shares in the last quarter. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter worth about $427,562,000. Northern Trust Corp increased its position in shares of PulteGroup by 14.9% during the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock worth $264,185,000 after purchasing an additional 315,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PulteGroup by 9.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock valued at $221,478,000 after purchasing an additional 169,736 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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.