PulteGroup, Inc. (PHM) Receives “Hold” Rating from KeyCorp
PulteGroup, Inc. (NYSE:PHM)‘s stock had its “hold” rating restated by stock analysts at KeyCorp in a note issued to investors on Wednesday. KeyCorp also issued estimates for PulteGroup’s Q4 2017 earnings at $0.82 EPS.
Several other research analysts also recently weighed in on the company. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, July 4th. MKM Partners reaffirmed a “neutral” rating on shares of PulteGroup in a research note on Tuesday, September 5th. Mizuho downgraded PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Monday, July 10th. Susquehanna Bancshares Inc downgraded PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Wednesday, July 26th. Finally, Citigroup Inc. downgraded PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 target price for the company. in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.67.
Shares of PulteGroup (NYSE:PHM) traded up 0.66% during midday trading on Wednesday, reaching $30.43. 3,977,329 shares of the company’s stock were exchanged. The company’s 50-day moving average is $27.32 and its 200-day moving average is $24.95. PulteGroup has a one year low of $17.69 and a one year high of $30.55. The stock has a market cap of $9.18 billion, a P/E ratio of 16.84 and a beta of 1.06.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. Equities analysts expect that PulteGroup will post $2.01 earnings per share for the current fiscal year.
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In other PulteGroup news, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the sale, the insider now directly owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PHM. BlackRock Inc. grew its holdings in PulteGroup by 3,521.7% in the 1st quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after buying an additional 22,259,277 shares in the last quarter. Credit Suisse AG grew its holdings in PulteGroup by 925.7% in the 2nd quarter. Credit Suisse AG now owns 12,969,345 shares of the construction company’s stock valued at $252,772,000 after buying an additional 11,704,936 shares in the last quarter. Boston Partners grew its holdings in PulteGroup by 53.9% in the 2nd quarter. Boston Partners now owns 25,047,967 shares of the construction company’s stock valued at $488,185,000 after buying an additional 8,773,436 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in PulteGroup in the 1st quarter valued at $92,466,000. Finally, Norges Bank purchased a new stake in PulteGroup in the 4th quarter valued at $61,761,000. Institutional investors own 85.39% 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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