PulteGroup (NYSE:PHM) Shares Gap Up – What’s Next?

PulteGroup, Inc. (NYSE:PHM)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $107.64, but opened at $110.49. PulteGroup shares last traded at $109.32, with a volume of 141,506 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on PHM shares. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group upped their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Oppenheimer decreased their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, BTIG Research raised their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.14.

PulteGroup Trading Up 2.0 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average is $124.61 and its 200-day moving average is $126.80. The stock has a market capitalization of $22.52 billion, a PE ratio of 8.10, a P/E/G ratio of 0.48 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company earned $2.90 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change 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 Trading of PulteGroup

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in shares of PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC purchased a new stake in PulteGroup during the 3rd quarter worth $29,000. Rothschild Investment LLC acquired a new position in PulteGroup in the 2nd quarter worth $31,000. Candriam S.C.A. purchased a new position in PulteGroup in the 2nd quarter valued at about $33,000. Finally, JNBA Financial Advisors acquired a new stake in shares of PulteGroup during the third quarter valued at about $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.