UBS AG Initiates Coverage on PulteGroup, Inc. (PHM)

UBS AG began coverage on shares of PulteGroup, Inc. (NYSE:PHM) in a research report sent to investors on Wednesday, 99wallstreet.com reports. The firm issued a buy rating and a $38.00 price target on the construction company’s stock.

Several other equities research analysts have also commented on PHM. Bank of America Corporation restated a buy rating and set a $30.00 price target (up from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Zacks Investment Research upgraded PulteGroup from a hold rating to a buy rating and set a $27.00 price target for the company in a research note on Tuesday, July 4th. Mizuho lowered PulteGroup from a neutral rating to an underperform rating and set a $22.00 price target for the company. in a research note on Monday, July 10th. Barclays PLC lowered PulteGroup from an overweight rating to an equal weight rating and set a $24.00 price target for the company. in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Finally, Wedbush upgraded PulteGroup from an underperform rating to a neutral rating and upped their price target for the stock from $15.00 to $22.00 in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $28.67.

PulteGroup (PHM) opened at 30.07 on Wednesday. PulteGroup has a one year low of $17.69 and a one year high of $30.16. The company’s 50-day moving average price is $27.10 and its 200-day moving average price is $24.85. The stock has a market capitalization of $9.07 billion, a PE ratio of 16.64 and a beta of 1.06.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. Equities research analysts predict that PulteGroup will post $2.08 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.20%. PulteGroup’s dividend payout ratio (DPR) is currently 17.91%.

Several hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC boosted its holdings in PulteGroup by 68.5% in the second quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 400 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after purchasing an additional 148 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in PulteGroup by 7.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock valued at $168,000 after purchasing an additional 465 shares during the last quarter. QCM Cayman Ltd. purchased a new position in PulteGroup in the second quarter valued at about $223,000. Finally, BKS Advisors LLC purchased a new position in PulteGroup in the second quarter valued at about $232,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

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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