PulteGroup, Inc. (NYSE:PHM) had its price target lowered by stock analysts at RBC Capital from $20.00 to $18.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has an “outperform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 10.23% from the company’s current price.

Several hedge funds and institutional investors have modified their holdings of the company. Alpha Windward raised its position in shares of PulteGroup by 10.1% in the fourth quarter. Alpha Windward now owns 24,282 shares of the company’s stock valued at $433,000 after buying an additional 2,230 shares during the last quarter. BB&T Securities raised its position in shares of PulteGroup by 17.5% in the fourth quarter. BB&T Securities now owns 24,882 shares of the company’s stock valued at $443,000 after buying an additional 3,697 shares during the last quarter. OLD Second National Bank of Aurora raised its position in shares of PulteGroup by 2.0% in the fourth quarter. OLD Second National Bank of Aurora now owns 35,587 shares of the company’s stock valued at $634,000 after buying an additional 700 shares during the last quarter. Capstone Asset Management Company raised its position in shares of PulteGroup by 151.3% in the fourth quarter. Capstone Asset Management Company now owns 51,991 shares of the company’s stock valued at $926,000 after buying an additional 31,304 shares during the last quarter. Finally, CIBC World Markets acquired a new position in shares of PulteGroup during the fourth quarter valued at about $1,053,000.

PulteGroup (NYSE:PHM) opened at 16.33 on Wednesday. PulteGroup has a one year low of $14.61 and a one year high of $23.36. The stock’s 50 day moving average is $17.11 and its 200-day moving average is $19.07. The firm has a market capitalization of $5.70 billion and a PE ratio of 12.29.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th were paid a $0.09 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, December 11th. This represents a $0.36 annualized dividend and a dividend yield of 2.20%.

A number of other brokerages have also recently issued reports on PHM. Compass Point reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of PulteGroup in a research note on Thursday, October 22nd. Credit Suisse reissued an “underperform” rating and set a $16.00 price target on shares of PulteGroup in a research report on Wednesday, December 16th. Zacks Investment Research raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Thursday, October 15th. Raymond James raised shares of PulteGroup from a “market perform” rating to an “outperform” rating and increased their price target for the company from $16.22 to $19.00 in a research report on Friday, January 8th. They noted that the move was a valuation call. Finally, Barclays reissued a “sell” rating on shares of PulteGroup in a research report on Wednesday, October 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and a consensus target price of $19.46.

PulteGroup, Inc. (NYSE:PHM) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs, including single-family detached, townhouses, condominiums and duplexes. It has delivered approximately 640,000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.

12 Month Chart for NYSE:PHM

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