PulteGroup (NYSE:PHM) Given New $152.00 Price Target at JPMorgan Chase & Co.

PulteGroup (NYSE:PHM) had its price objective increased by JPMorgan Chase & Co. from $141.00 to $152.00 in a research note published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

PHM has been the topic of a number of other reports. Citigroup reduced their target price on shares of PulteGroup from $129.00 to $117.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Wedbush reaffirmed a neutral rating and set a $115.00 target price (up from $105.00) on shares of PulteGroup in a research report on Tuesday, July 23rd. BTIG Research lifted their price objective on shares of PulteGroup from $133.00 to $139.00 and gave the company a buy rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Evercore ISI lifted their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the company an outperform rating in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $133.14.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $129.99 on Thursday. The firm has a market cap of $26.98 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.53 and a beta of 1.61. The firm’s 50 day simple moving average is $114.31 and its 200-day simple moving average is $111.60. PulteGroup has a one year low of $68.80 and a one year high of $130.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $3.00 earnings per share. As a group, equities analysts predict that PulteGroup will post 12.81 EPS for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.62%. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of PulteGroup during the fourth quarter worth $381,960,000. Swedbank AB acquired a new stake in shares of PulteGroup during the first quarter worth $68,985,000. Allianz Asset Management GmbH lifted its stake in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after buying an additional 523,623 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.