PulteGroup (NYSE:PHM – Free Report) had its target price cut by Bank of America from $135.00 to $134.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.
Several other equities research analysts have also issued reports on the stock. BTIG Research boosted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wedbush raised shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. 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 research note on Tuesday, December 17th. Citigroup lowered their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.29.
Read Our Latest Research Report on PHM
PulteGroup Price Performance
PulteGroup Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.75%. PulteGroup’s dividend payout ratio is 6.49%.
Hedge Funds Weigh In On PulteGroup
Institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its stake in shares of PulteGroup by 23.1% during the second quarter. Thrivent Financial for Lutherans now owns 18,364 shares of the construction company’s stock valued at $2,022,000 after purchasing an additional 3,446 shares during the last quarter. Public Sector Pension Investment Board boosted its position in PulteGroup by 61.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock valued at $861,000 after buying an additional 2,970 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of PulteGroup by 147.0% in the 2nd quarter. APG Asset Management N.V. now owns 26,383 shares of the construction company’s stock valued at $2,710,000 after buying an additional 15,700 shares during the period. MBB Public Markets I LLC bought a new stake in shares of PulteGroup during the second quarter worth $1,729,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of PulteGroup during the second quarter valued at $226,000. 89.90% of the stock is owned by institutional investors.
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.
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