Citigroup Lowers PulteGroup (NYSE:PHM) Price Target to $117.00

PulteGroup (NYSE:PHM) had its target price decreased by analysts at Citigroup from $129.00 to $117.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s target price points to a potential upside of 11.40% from the stock’s current price.

Several other equities analysts have also commented on the company. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group increased their target price on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Barclays increased their target price on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.21.

PulteGroup Stock Up 0.5 %

PulteGroup stock opened at $105.03 on Tuesday. PulteGroup has a twelve month low of $68.80 and a twelve month high of $122.72. The stock’s fifty day simple moving average is $113.78 and its 200-day simple moving average is $109.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $22.09 billion, a P/E ratio of 8.41, a P/E/G ratio of 0.49 and a beta of 1.61.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. As a group, equities analysts expect that PulteGroup will post 12.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds have recently added to or reduced their stakes in PHM. Certuity LLC purchased a new position in PulteGroup in the fourth quarter valued at about $245,000. Nordea Investment Management AB increased its holdings in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after buying an additional 28,833 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in PulteGroup by 166.6% in the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after buying an additional 8,215 shares in the last quarter. Personal CFO Solutions LLC purchased a new position in PulteGroup in the fourth quarter valued at about $719,000. Finally, Truist Financial Corp increased its holdings in PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock valued at $19,738,000 after buying an additional 136,370 shares in the last quarter. Institutional investors and hedge funds 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.