Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of PulteGroup from a hold rating to a buy rating and set a $33.00 price target for the company in a research note on Friday, October 27th. Credit Suisse Group reissued an outperform rating and issued a $38.00 price target (up previously from $32.00) on shares of PulteGroup in a research note on Monday, January 22nd. They noted that the move was a valuation call. Citigroup cut shares of PulteGroup from a neutral rating to a sell rating and set a $26.00 price target for the company. in a research note on Friday, October 20th. B. Riley cut shares of PulteGroup from a buy rating to a neutral rating and increased their price target for the company from $31.00 to $36.00 in a research note on Wednesday, January 3rd. Finally, UBS Group increased their price target on shares of PulteGroup from $38.00 to $41.00 and gave the company a buy rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $32.85.
Shares of PulteGroup (NYSE PHM) opened at $29.74 on Wednesday. PulteGroup has a one year low of $21.13 and a one year high of $35.21. The stock has a market cap of $8,740.00, a PE ratio of 20.23, a P/E/G ratio of 0.46 and a beta of 1.03.
PulteGroup declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 16th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.21%. PulteGroup’s dividend payout ratio is currently 24.49%.
In other news, insider James R. Ellinghausen sold 67,490 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the completion of the transaction, the chief financial officer now owns 363,722 shares in the company, valued at $12,326,538.58. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Achmea Investment Management B.V. acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $253,000. Capital Bank & Trust Co lifted its holdings in shares of PulteGroup by 424.5% in the 3rd quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock worth $3,303,000 after acquiring an additional 97,818 shares during the last quarter. Andra AP fonden lifted its holdings in shares of PulteGroup by 11.5% in the 3rd quarter. Andra AP fonden now owns 126,600 shares of the construction company’s stock worth $3,460,000 after acquiring an additional 13,100 shares during the last quarter. LMR Partners LLP acquired a new position in shares of PulteGroup in the 4th quarter worth approximately $1,597,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of PulteGroup by 747.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock worth $36,159,000 after acquiring an additional 1,166,885 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.
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PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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