Seaport Res Ptn Downgrades PulteGroup (NYSE:PHM) to Strong Sell

Seaport Res Ptn lowered shares of PulteGroup (NYSE:PHM - Free Report) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on PHM. Bank of America lowered their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday. Evercore ISI dropped their price objective on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. StockNews.com lowered PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $142.29.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $2.15 during trading on Monday, hitting $112.90. 2,965,880 shares of the stock traded hands, compared to its average volume of 2,112,438. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $118.53 and a two-hundred day moving average price of $127.58. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.46 and a beta of 1.67.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.78%. PulteGroup's dividend payout ratio is 6.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHM. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after acquiring an additional 99 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup in the 3rd quarter valued at $29,000. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup during the 4th quarter worth $29,000. R Squared Ltd acquired a new stake in shares of PulteGroup during the 4th quarter worth about $39,000. Finally, JNBA Financial Advisors purchased a new stake in PulteGroup in the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

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.