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

by · The Markets Daily

PulteGroup (NYSE:PHM – Get Free Report) had its target price upped by investment analysts at BTIG Research from $139.00 to $156.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. BTIG Research’s price target indicates a potential upside of 14.84% from the company’s current price.

A number of other brokerages have also recently commented on PHM. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company raised their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Raymond James boosted their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer raised their target price on shares of PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays lifted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.00.

Check Out Our Latest Stock Report on PulteGroup

PulteGroup Trading Up 2.0 %

PulteGroup stock opened at $135.84 on Wednesday. The business has a 50-day simple moving average of $136.67 and a two-hundred day simple moving average of $122.95. PulteGroup has a 52-week low of $70.21 and a 52-week high of $149.47. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market cap of $28.19 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 earnings per share. Analysts predict that PulteGroup will post 12.9 EPS for the current year.

Insider Activity

In related 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 value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of PulteGroup by 22.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 119,794 shares of the construction company’s stock worth $17,218,000 after acquiring an additional 22,186 shares during the last quarter. Concord Wealth Partners lifted its position in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of PulteGroup by 7,042.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the construction company’s stock worth $72,000 after purchasing an additional 493 shares during the last quarter. Custom Index Systems LLC boosted its stake in shares of PulteGroup by 42.3% during the third quarter. Custom Index Systems LLC now owns 3,449 shares of the construction company’s stock valued at $495,000 after purchasing an additional 1,025 shares during the period. Finally, Ellis Investment Partners LLC grew its holdings in shares of PulteGroup by 4.3% in the third quarter. Ellis Investment Partners LLC now owns 25,585 shares of the construction company’s stock worth $3,672,000 after purchasing an additional 1,056 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

(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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