PulteGroup, Inc. (NYSE:PHM) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, July 31st.
Several other equities research analysts also recently weighed in on PHM. Credit Suisse Group assumed coverage on PulteGroup in a report on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price objective for the company. Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. Wedbush upgraded PulteGroup from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $22.00 in a research report on Thursday, July 13th. Barclays PLC cut PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Finally, Mizuho lowered PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.08.
PulteGroup (PHM) traded down 0.63% on Monday, reaching $25.28. 3,649,662 shares of the company’s stock were exchanged. PulteGroup has a one year low of $17.69 and a one year high of $26.00. The firm has a 50 day moving average of $24.80 and a 200-day moving average of $23.43. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 13.99 and a beta of 1.14.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that PulteGroup will post $2.09 EPS for the current fiscal year.
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In other news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after buying an additional 148 shares during the period. Trust Department MB Financial Bank N A bought a new position in shares of PulteGroup during the first quarter worth about $129,000. IFP Advisors Inc boosted its position in shares of PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in shares of PulteGroup during the first quarter worth about $155,000. 88.12% of the stock is currently owned by institutional investors.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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