PulteGroup’s (NYSE:PHM) Neutral Rating Reiterated at Wedbush
PulteGroup, Inc. (NYSE:PHM)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a research note issued on Tuesday. They presently have a $22.00 price target on the construction company’s stock. Wedbush’s target price points to a potential downside of 10.35% from the stock’s current price.
PHM has been the subject of a number of other reports. Barclays PLC cut PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Mizuho cut PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research report on Monday, July 10th. BidaskClub cut PulteGroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price target (up from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.73.
Shares of PulteGroup (NYSE:PHM) traded up 0.49% on Tuesday, hitting $24.54. 6,650,118 shares of the company traded hands. PulteGroup has a 12 month low of $17.69 and a 12 month high of $25.20. The stock’s 50-day moving average price is $24.19 and its 200-day moving average price is $22.75. The company has a market capitalization of $7.74 billion, a PE ratio of 13.55 and a beta of 1.14.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that PulteGroup will post $2.21 earnings per share for the current year.
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In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 108,744 shares in the company, valued at $2,520,685.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of PulteGroup during the fourth quarter valued at $587,000. RMB Capital Management LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $349,000. Teachers Advisors LLC boosted its position in shares of PulteGroup by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 2,207,971 shares of the construction company’s stock valued at $40,583,000 after buying an additional 283,598 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of PulteGroup during the fourth quarter valued at $397,000. 87.85% of the stock is owned by institutional investors and hedge funds.
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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