PulteGroup (NYSE:PHM) Upgraded to “Buy” at StockNews.com

PulteGroup (NYSE:PHM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

A number of other research analysts have also weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday. Raymond James raised their price target on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays raised their price target on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and eleven have given 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 $111.73.

PulteGroup Trading Down 0.8 %

Shares of PHM opened at $111.36 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. PulteGroup has a 1 year low of $64.41 and a 1 year high of $121.07. The company has a 50 day simple moving average of $111.04 and a two-hundred day simple moving average of $99.13. The firm has a market cap of $23.50 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the firm posted $3.63 EPS. The company’s revenue was down 15.5% on a year-over-year basis. On average, equities analysts expect that PulteGroup will post 11.79 earnings per share for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors have recently bought and sold shares of the business. Putnam Investments LLC raised its position in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock worth $1,136,318,000 after buying an additional 197,656 shares during the last quarter. Greenhaven Associates Inc. increased its holdings in shares of PulteGroup by 0.4% during the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after purchasing an additional 24,350 shares in the last quarter. FMR LLC increased its holdings in shares of PulteGroup by 1.8% during the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock valued at $406,125,000 after purchasing an additional 95,945 shares in the last quarter. Invesco Ltd. increased its holdings in shares of PulteGroup by 13.3% during the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock valued at $328,261,000 after purchasing an additional 522,032 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PulteGroup during the 4th quarter valued at approximately $381,960,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.