Oppenheimer Lowers PulteGroup (NYSE:PHM) Price Target to $150.00

PulteGroup (NYSE:PHM) had its price objective dropped by equities research analysts at Oppenheimer from $165.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price suggests a potential upside of 28.68% from the stock’s current price.

PHM has been the subject of a number of other reports. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Barclays dropped their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday. BTIG Research boosted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Wedbush raised PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.64.

PulteGroup Trading Down 1.6 %

Shares of PulteGroup stock traded down $1.94 on Friday, hitting $116.57. 928,261 shares of the company traded hands, compared to its average volume of 2,132,375. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market cap of $23.91 billion, a PE ratio of 8.63, a PEG ratio of 0.49 and a beta of 1.67. The stock’s 50 day moving average price is $118.03 and its 200-day moving average price is $127.42. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. Equities research analysts predict that PulteGroup will post 13.06 EPS for the current year.

PulteGroup declared that its Board of Directors has initiated a share buyback program on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of PulteGroup

Several large investors have recently added to or reduced their stakes in PHM. Truist Financial Corp boosted its position in PulteGroup by 26.0% in the fourth quarter. Truist Financial Corp now owns 115,573 shares of the construction company’s stock valued at $12,586,000 after buying an additional 23,863 shares during the last quarter. CIBC Asset Management Inc lifted its stake in PulteGroup by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 31,992 shares of the construction company’s stock valued at $3,484,000 after acquiring an additional 1,083 shares during the period. Monument Capital Management boosted its holdings in shares of PulteGroup by 0.8% in the 4th quarter. Monument Capital Management now owns 42,416 shares of the construction company’s stock valued at $4,619,000 after acquiring an additional 342 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of PulteGroup by 22.9% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,131 shares of the construction company’s stock worth $994,000 after acquiring an additional 1,700 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in shares of PulteGroup by 273.0% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 6,900 shares of the construction company’s stock worth $751,000 after purchasing an additional 5,050 shares during the last quarter. Hedge funds and other 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.