PulteGroup (NYSE:PHM) PT Raised to $165.00 at Wells Fargo & Company

by · The Markets Daily

PulteGroup (NYSE:PHM – Free Report) had its price target upped by Wells Fargo & Company from $150.00 to $165.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other equities research analysts have also issued reports about the company. Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Citigroup dropped their target price on shares of PulteGroup from $129.00 to $117.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. Bank of America lifted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a buy rating in a research report on Thursday, September 19th. Raymond James increased their price objective 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. Finally, Wedbush reissued a neutral rating and issued a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $141.14.

Check Out Our Latest Report on PulteGroup

PulteGroup Price Performance

PulteGroup stock opened at $139.40 on Monday. PulteGroup has a 1 year low of $68.80 and a 1 year high of $145.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average price of $132.89 and a 200 day moving average price of $121.08. The company has a market cap of $29.32 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.58 and a beta of 1.62.

PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.00 EPS. Sell-side analysts predict that PulteGroup will post 12.9 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s payout ratio is 6.41%.

Insider Transactions at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently modified their holdings of the business. WR Wealth Planners LLC increased its position in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Lebenthal Global Advisors LLC grew its position in shares of PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in shares of PulteGroup by 2.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock worth $614,000 after acquiring an additional 101 shares in the last quarter. Patten Group Inc. increased its holdings in shares of PulteGroup by 2.9% in the 2nd quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after acquiring an additional 109 shares during the last quarter. Finally, NBC Securities Inc. raised its position in shares of PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after acquiring an additional 112 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Company Profile

(Get Free Report)

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.

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