PulteGroup (NYSE:PHM) PT Lowered to $195.00

PulteGroup (NYSE:PHM) had its price objective cut by investment analysts at Evercore ISI from $198.00 to $195.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s target price would indicate a potential upside of 44.76% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays lifted their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their price target on PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Raymond James lifted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Stock Performance

Shares of PHM traded up $0.90 during mid-day trading on Wednesday, reaching $134.71. 473,831 shares of the company’s stock were exchanged, compared to its average volume of 1,827,418. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $27.96 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. The business’s fifty day simple moving average is $136.45 and its 200-day simple moving average is $122.87. PulteGroup has a 52-week low of $68.80 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the firm posted $2.90 EPS. PulteGroup’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts expect that PulteGroup will post 12.9 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction 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 approximately $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Grove Bank & Trust increased its holdings in shares of PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares during the period. WR Wealth Planners LLC grew its holdings in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Lebenthal Global Advisors LLC grew its holdings in PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares during the period. Tocqueville Asset Management L.P. grew its holdings in PulteGroup by 2.0% during the first quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock worth $614,000 after acquiring an additional 101 shares during the period. Finally, Patten Group Inc. grew its holdings in PulteGroup by 2.9% during the second quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock worth $419,000 after acquiring an additional 109 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

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.