PulteGroup (NYSE:PHM) PT Raised to $160.00

PulteGroup (NYSE:PHM) had its price target lifted by equities research analysts at Bank of America from $138.00 to $160.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s target price indicates a potential upside of 12.79% from the company’s previous close.

PHM has been the subject of several other research reports. Evercore ISI lifted their price target on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Barclays lifted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Oppenheimer lifted their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Citigroup cut their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Six equities 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, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $134.71.

PulteGroup Stock Performance

NYSE PHM opened at $141.86 on Thursday. The company has a fifty day simple moving average of $128.95 and a 200 day simple moving average of $118.50. PulteGroup has a 12-month low of $68.80 and a 12-month high of $145.84. 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 has a market cap of $29.44 billion, a P/E ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm posted $3.00 EPS. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that PulteGroup will post 12.9 earnings per share for the current fiscal year.

Insider Activity at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were 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 in the company, valued at $5,931,462.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Putnam Investments LLC increased its position in shares of PulteGroup by 1.8% during the fourth quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after buying an additional 197,656 shares during the period. Pacer Advisors Inc. increased its position in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after buying an additional 235,826 shares during the period. Allianz Asset Management GmbH increased its position in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares during the period. Hsbc Holdings PLC increased its position in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after buying an additional 250,937 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of PulteGroup by 0.5% during the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after buying an additional 7,397 shares during the period. 89.90% of the stock is currently owned by 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.