PulteGroup, Inc. (NYSE:PHM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PulteGroup, Inc. (NYSE:PHM) have earned an average rating of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $133.14.

A number of equities analysts have commented on the company. Bank of America lifted their target price on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Barclays increased their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Oppenheimer lifted their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Raymond James upped their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

PulteGroup Stock Up 3.1 %

Shares of PulteGroup stock opened at $128.55 on Thursday. 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 business has a 50-day moving average price of $118.25 and a 200 day moving average price of $114.11. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $135.62. The firm has a market cap of $27.04 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.50 and a beta of 1.61.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the business earned $3.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup will post 12.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in PulteGroup during the fourth quarter valued at about $381,960,000. Swedbank AB purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $68,985,000. Allianz Asset Management GmbH boosted its stake in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the period. Hsbc Holdings PLC grew its position in PulteGroup by 19.6% during the 2nd 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 in the last quarter. Finally, Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the period. 89.90% of the stock is owned by institutional investors.

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.