BTIG Research Increases PulteGroup (NYSE:PHM) Price Target to $156.00

PulteGroup (NYSE:PHM) had its price objective lifted by stock analysts at BTIG Research from $139.00 to $156.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. BTIG Research’s target price would suggest a potential upside of 16.61% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on PHM. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Oppenheimer raised their target price on PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $142.36.

PulteGroup Trading Down 7.3 %

NYSE:PHM opened at $133.78 on Wednesday. The company has a market cap of $27.76 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.61 and a beta of 1.62. The stock’s fifty day moving average price is $136.45 and its two-hundred day moving average price is $122.87. PulteGroup has a 1 year low of $68.80 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the business posted $2.90 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts expect that PulteGroup will post 12.9 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 in the last three months. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the stock. WR Wealth Planners LLC grew its position in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. LRI Investments LLC bought a new stake in PulteGroup in the 1st quarter worth approximately $28,000. Rothschild Investment LLC bought a new stake in PulteGroup in the 2nd quarter worth approximately $31,000. Candriam S.C.A. bought a new stake in PulteGroup in the 2nd quarter worth approximately $33,000. Finally, Continuum Advisory LLC grew its position in PulteGroup by 94.5% in the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares during the period. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.