Citigroup Inc. Increases PulteGroup, Inc. (NYSE:PHM) Price Target to $26.00
PulteGroup, Inc. (NYSE:PHM) had its target price increased by equities research analysts at Citigroup Inc. from $23.00 to $26.00 in a research note issued on Wednesday. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup Inc.’s price target points to a potential upside of 7.04% from the stock’s current price.
A number of other analysts also recently issued reports on the company. FBR & Co reaffirmed an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of PulteGroup in a research report on Wednesday. Susquehanna Bancshares Inc downgraded PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price target on the stock. in a research report on Wednesday. UBS AG downgraded PulteGroup from a “positive” rating to a “neutral” rating in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $22.00 target price on shares of PulteGroup in a research report on Tuesday. Finally, BidaskClub downgraded PulteGroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.08.
Shares of PulteGroup (NYSE PHM) traded down 1.02% on Wednesday, hitting $24.29. The stock had a trading volume of 4,257,096 shares. The stock has a market capitalization of $7.66 billion, a PE ratio of 13.41 and a beta of 1.15. The firm’s 50 day moving average is $24.19 and its 200-day moving average is $22.75. PulteGroup has a one year low of $17.69 and a one year high of $25.20.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. Equities research analysts expect that PulteGroup will post $2.21 earnings per share for the current fiscal year.
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In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares in the company, valued at approximately $2,520,685.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock worth $539,092,000 after buying an additional 22,259,277 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PulteGroup during the first quarter worth $92,466,000. Wedge Capital Management L L P NC acquired a new stake in shares of PulteGroup during the first quarter worth $59,083,000. Boston Advisors LLC acquired a new stake in shares of PulteGroup during the first quarter worth $17,839,000. Finally, Horseman Capital Management Ltd increased its stake in shares of PulteGroup by 98.2% in the first quarter. Horseman Capital Management Ltd now owns 1,486,400 shares of the construction company’s stock worth $35,005,000 after buying an additional 736,400 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.
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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