PulteGroup (NYSE:PHM) Upgraded by UBS Group to "Buy" Rating

UBS Group upgraded shares of PulteGroup (NYSE:PHM - Free Report) from a neutral rating to a buy rating in a report published on Wednesday, Marketbeat Ratings reports. They currently have $148.00 target price on the construction company's stock, down from their previous target price of $154.00.

Other equities research analysts also recently issued research reports about the company. Oppenheimer decreased their target price on PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Wedbush upgraded shares of PulteGroup from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Bank of America boosted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Finally, BTIG Research raised their target price on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $143.86.

PulteGroup Trading Up 2.4 %

Shares of NYSE PHM traded up $2.58 during midday trading on Wednesday, hitting $110.41. The stock had a trading volume of 2,626,484 shares, compared to its average volume of 1,833,688. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.48 and a beta of 1.67. The company has a fifty day moving average price of $123.23 and a 200 day moving average price of $126.95.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same period in the previous year, the company posted $2.90 earnings per share. PulteGroup's revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that PulteGroup will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.80%. PulteGroup's dividend payout ratio (DPR) is 6.49%.

Institutional Inflows and Outflows

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