UBS Group Issues Positive Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM - Free Report) had its target price upped by UBS Group from $148.00 to $151.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a buy rating on the construction company's stock.

A number of other equities research analysts have also issued reports on PHM. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company decreased their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. StockNews.com cut PulteGroup from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given 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 $140.86.

PulteGroup Price Performance

Shares of PHM traded up $1.29 during mid-day trading on Friday, hitting $110.44. 2,560,018 shares of the company were exchanged, compared to its average volume of 2,308,485. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.68. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47. The company has a 50 day moving average of $117.15 and a 200-day moving average of $127.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Analysts expect that PulteGroup will post 13.34 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock buyback program on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.22 dividend. This is an increase from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup's payout ratio is currently 5.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PHM. Fortitude Family Office LLC boosted its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after buying an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new position in PulteGroup in the third quarter valued at $29,000. Hager Investment Management Services LLC acquired a new position in PulteGroup during the 4th quarter worth $29,000. R Squared Ltd purchased a new stake in PulteGroup during the 4th quarter worth about $39,000. Finally, JNBA Financial Advisors acquired a new stake in PulteGroup in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds 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.