BTIG Research Raises PulteGroup (NYSE:PHM) Price Target to $156.00

PulteGroup (NYSE:PHM) had its target price upped by BTIG Research from $139.00 to $156.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. BTIG Research’s price target points to a potential upside of 14.84% from the stock’s current price.

PHM has been the subject of several other research reports. Raymond James upped their price target 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. Bank of America upped their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Citigroup dropped their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Evercore ISI boosted their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Barclays raised their price objective on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Trading Up 2.0 %

Shares of NYSE PHM opened at $135.84 on Wednesday. PulteGroup has a twelve month low of $70.21 and a twelve month high of $149.47. The firm has a market cap of $28.19 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The business has a fifty day simple moving average of $136.67 and a two-hundred day simple moving average of $122.95. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the firm posted $2.90 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect 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 71,007 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On PulteGroup

Several institutional investors and hedge funds have recently modified their holdings of PHM. WR Wealth Planners LLC lifted its holdings in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. LRI Investments LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at $28,000. Rothschild Investment LLC purchased a new stake in PulteGroup during the second quarter worth $31,000. Candriam S.C.A. purchased a new stake in PulteGroup during the second quarter worth $33,000. Finally, Continuum Advisory LLC grew its position in PulteGroup by 94.5% during the second quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.