PulteGroup (NYSE:PHM) PT Raised to $113.00

PulteGroup (NYSE:PHM) had its target price lifted by analysts at Royal Bank of Canada from $106.00 to $113.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price points to a potential upside of 1.54% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer upped their price target on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup raised their price objective on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Raymond James boosted their price objective on PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their target price for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Finally, StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.13.

PulteGroup Stock Down 1.3 %

Shares of PulteGroup stock traded down $1.47 during trading on Wednesday, hitting $111.29. 790,903 shares of the stock traded hands, compared to its average volume of 1,810,976. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average price of $110.73 and a two-hundred day moving average price of $98.96. The stock has a market cap of $23.48 billion, a P/E ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.56. PulteGroup has a twelve month low of $64.41 and a twelve month high of $121.07.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.63 EPS. Equities research analysts predict that PulteGroup will post 11.79 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a share buyback program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Large investors have recently modified their holdings of the business. CWM LLC raised its holdings in PulteGroup by 33.3% during the third quarter. CWM LLC now owns 10,449 shares of the construction company’s stock worth $774,000 after purchasing an additional 2,609 shares in the last quarter. AE Wealth Management LLC lifted its holdings in PulteGroup by 25.6% in the third quarter. AE Wealth Management LLC now owns 25,237 shares of the construction company’s stock valued at $1,869,000 after buying an additional 5,140 shares during the period. Exchange Traded Concepts LLC increased its stake in PulteGroup by 11.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 27,619 shares of the construction company’s stock valued at $2,045,000 after buying an additional 2,750 shares during the last quarter. Private Trust Co. NA grew its stake in PulteGroup by 25.0% in the 3rd quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock valued at $64,000 after buying an additional 172 shares during the last quarter. Finally, Riverwater Partners LLC bought a new stake in shares of PulteGroup during the 3rd quarter worth approximately $232,000. 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.