PulteGroup (NYSE:PHM) PT Raised to $168.00

PulteGroup (NYSE:PHM) had its price objective lifted by Oppenheimer from $151.00 to $168.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price indicates a potential upside of 18.33% from the company’s current price.

Several other equities research analysts have also weighed in on PHM. Royal Bank of Canada increased their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. BTIG Research increased their price target on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Raymond James raised their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.93.

PulteGroup Stock Down 1.8 %

PulteGroup stock traded down $2.64 during midday trading on Wednesday, hitting $141.97. The stock had a trading volume of 39,329 shares, compared to its average volume of 1,851,984. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $131.66 and a 200 day moving average price of $120.11. PulteGroup has a 12 month low of $68.80 and a 12 month high of $145.84. The stock has a market cap of $29.46 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 25.67% and a net margin of 16.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.00 EPS. Research analysts predict that PulteGroup will post 12.9 EPS for the current year.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 completion of the sale, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Hedge funds have recently modified their holdings of the business. Putnam Investments LLC raised its stake in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after purchasing an additional 197,656 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares during the period. Los Angeles Capital Management LLC grew its position in PulteGroup by 0.5% during the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock worth $172,971,000 after buying an additional 7,397 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in PulteGroup by 18.4% during the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after buying an additional 168,746 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Company Profile

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.