Wedbush Reiterates Neutral Rating for PulteGroup (NYSE:PHM)

Wedbush reaffirmed their neutral rating on shares of PulteGroup (NYSE:PHM) in a research note released on Tuesday, Benzinga reports. They currently have a $115.00 price target on the construction company’s stock. Wedbush also issued estimates for PulteGroup’s FY2024 earnings at $13.03 EPS, Q1 2025 earnings at $3.04 EPS, Q2 2025 earnings at $3.50 EPS, Q3 2025 earnings at $3.75 EPS, Q4 2025 earnings at $4.11 EPS, FY2025 earnings at $14.39 EPS and Q2 2026 earnings at $3.85 EPS.

PHM has been the topic of several other reports. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Citigroup reduced their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Oppenheimer raised their price objective on shares of PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Trading Up 2.0 %

PulteGroup stock opened at $135.84 on Tuesday. The stock has a 50-day moving average price of $136.67 and a 200 day moving average price of $122.95. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. PulteGroup has a 52 week low of $70.21 and a 52 week high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 EPS. Sell-side analysts anticipate that PulteGroup will post 12.9 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by corporate insiders.

Institutional Trading of PulteGroup

Several large investors have recently added to or reduced their stakes in PHM. Grove Bank & Trust boosted its position in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the last quarter. WR Wealth Planners LLC boosted its holdings in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after buying an additional 83 shares during the period. Concord Wealth Partners increased its holdings in shares of PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after buying an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.