PulteGroup (NYSE:PHM) Reaches New 12-Month High at $136.00

PulteGroup, Inc. (NYSE:PHM) shares hit a new 52-week high on Monday . The stock traded as high as $136.00 and last traded at $135.02, with a volume of 112524 shares changing hands. The stock had previously closed at $135.13.

Wall Street Analyst Weigh In

PHM has been the subject of several analyst reports. BTIG Research raised their price target on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer lifted their target price on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup cut their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Raymond James lifted their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $133.14.

PulteGroup Stock Down 0.3 %

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 company’s 50 day moving average price is $118.94 and its two-hundred day moving average price is $114.59. The firm has a market cap of $28.35 billion, a PE ratio of 10.82, a PEG ratio of 0.50 and a beta of 1.61.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the previous year, the company earned $3.00 EPS. PulteGroup’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction 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 transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Putnam Investments LLC increased its holdings in PulteGroup by 1.8% in 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 acquiring an additional 197,656 shares during the last quarter. Norges Bank bought a new stake in PulteGroup in the 4th quarter valued at $381,960,000. Pacer Advisors Inc. increased its holdings in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after acquiring an additional 523,623 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after acquiring an additional 250,937 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

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.