PulteGroup (NYSE:PHM) PT Lowered to $165.00

PulteGroup (NYSE:PHM) had its price objective dropped by equities researchers at Oppenheimer from $168.00 to $165.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective points to a potential upside of 21.47% from the company’s previous close.

A number of other analysts have also issued reports on PHM. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday. Royal Bank of Canada upped their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Bank of America raised their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BTIG Research boosted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Price Performance

PHM opened at $135.84 on Wednesday. The firm has a 50-day moving average price of $136.67 and a 200-day moving average price of $122.95. PulteGroup has a twelve month low of $70.21 and a twelve month high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last released 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 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.90 EPS. Equities analysts expect that PulteGroup will post 12.9 EPS for the current year.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s 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 owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the company’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 completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Grove Bank & Trust lifted 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 last quarter. WR Wealth Planners LLC raised its stake 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 buying an additional 82 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners grew its stake in shares of PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after acquiring an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its holdings in shares of PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other 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.