PulteGroup (NYSE:PHM) PT Raised to $160.00 at Bank of America

PulteGroup (NYSE:PHM) had its target price upped by research analysts at Bank of America from $138.00 to $160.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 10.80% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Evercore ISI boosted their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Barclays lifted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BTIG Research boosted their price objective on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup lowered their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $134.71.

PulteGroup Trading Up 2.4 %

Shares of NYSE PHM traded up $3.42 during mid-day trading on Thursday, hitting $144.41. The company’s stock had a trading volume of 824,757 shares, compared to its average volume of 1,837,549. The company’s fifty day simple moving average is $127.82 and its 200-day simple moving average is $118.10. PulteGroup has a one year low of $68.80 and a one year high of $145.36. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $3.00 earnings per share. On average, sell-side analysts anticipate that PulteGroup will post 12.9 earnings per share for the current fiscal year.

Insider Transactions at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 over the last ninety days. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Benjamin Edwards Inc. acquired a new position in PulteGroup during the 1st quarter worth $26,000. WR Wealth Planners LLC grew its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC purchased a new position in PulteGroup during the first quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new position in PulteGroup during the second quarter valued at approximately $31,000. Finally, Candriam S.C.A. purchased a new position in PulteGroup during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.