Wells Fargo & Company Increases PulteGroup (NYSE:PHM) Price Target to $165.00

PulteGroup (NYSE:PHM) had its target price lifted by equities research analysts at Wells Fargo & Company from $150.00 to $165.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 17.72% from the company’s previous close.

Several other analysts have also weighed in on the stock. Oppenheimer lifted their target price on shares of PulteGroup from $151.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup lowered their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays boosted their price target on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.14.

PulteGroup Trading Up 0.5 %

Shares of PHM opened at $140.16 on Monday. The stock’s 50-day moving average price is $132.75 and its 200 day moving average price is $120.91. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $29.09 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 0.58 and a beta of 1.62. PulteGroup has a 12-month low of $68.80 and a 12-month high of $145.84.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 earnings per share. As a group, research analysts predict that PulteGroup will post 12.9 earnings per share for the current year.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new stake in shares of PulteGroup in the 1st quarter valued at approximately $68,985,000. Hsbc Holdings PLC raised its holdings in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the period. Pacer Advisors Inc. boosted 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 worth $326,864,000 after purchasing an additional 235,826 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of PulteGroup by 130.2% during the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after purchasing an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after buying an additional 212,837 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.