PulteGroup (NYSE:PHM) PT Lowered to $165.00 at Oppenheimer

PulteGroup (NYSE:PHM) had its price target cut by stock analysts at Oppenheimer from $168.00 to $165.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective indicates a potential upside of 23.34% from the company’s current price.

Other equities research analysts have also issued reports about the company. Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company increased their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Raymond James raised their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI boosted their price target on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.14.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $133.78 on Wednesday. PulteGroup has a 52 week low of $68.80 and a 52 week high of $149.47. 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 stock has a market cap of $27.76 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. The company’s 50-day moving average price is $136.45 and its two-hundred day moving average price is $122.87.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.90 earnings per share. As a group, sell-side analysts anticipate that PulteGroup will post 12.9 EPS for the current fiscal year.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred 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 owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock valued at $15,814,039 in the last three months. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently made changes to their positions in PHM. Swedbank AB bought a new position in shares of PulteGroup in the 1st quarter valued at approximately $68,985,000. Hsbc Holdings PLC raised its position 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 purchasing an additional 250,937 shares during the period. Pacer Advisors Inc. lifted its stake in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after buying an additional 223,841 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after acquiring an additional 219,609 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.