Bank of America Cuts PulteGroup (NYSE:PHM) Price Target to $134.00

PulteGroup (NYSE:PHM) had its price objective reduced by Bank of America from $135.00 to $134.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other brokerages have also recently issued reports on PHM. Wells Fargo & Company dropped their price target on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Evercore ISI dropped their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upgraded PulteGroup from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $154.00 to $148.00 in a research report on Wednesday, January 8th. BTIG Research boosted their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup dropped their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

PulteGroup Stock Performance

Shares of PHM stock opened at $112.90 on Monday. The stock has a market capitalization of $23.15 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The stock’s 50-day moving average price is $118.53 and its 200 day moving average price is $127.58. 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 Increases Dividend

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

Institutional Investors Weigh In On PulteGroup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC raised its holdings 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 acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup in the 3rd quarter valued at $29,000. Hager Investment Management Services LLC acquired a new position in PulteGroup in the 4th quarter valued at $29,000. JNBA Financial Advisors acquired a new position in PulteGroup in the 3rd quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. 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.