PulteGroup (NYSE:PHM - Get Free Report) 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.
Read Our Latest Stock Report on PulteGroup
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 - Get Free Report) 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.
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.
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, 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.
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