Wells Fargo & Company Has Lowered Expectations for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target dropped by Wells Fargo & Company from $150.00 to $132.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.47% from the stock’s previous close.

A number of other equities analysts have also weighed in on PHM. Bank of America decreased their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. Evercore ISI decreased their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd. BTIG Research assumed coverage on PulteGroup in a report on Monday, December 1st. They set a “neutral” rating on the stock. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.15.

PulteGroup Price Performance

PHM opened at $117.36 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.33. The stock has a fifty day simple moving average of $121.26 and a two-hundred day simple moving average of $122.46. PulteGroup has a 12-month low of $88.07 and a 12-month high of $142.11.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the firm earned $3.35 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts predict that PulteGroup will post 12.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

Several institutional investors have recently made changes to their positions in PHM. Sagespring Wealth Partners LLC boosted its holdings in shares of PulteGroup by 6.1% in the fourth quarter. Sagespring Wealth Partners LLC now owns 4,066 shares of the construction company’s stock worth $477,000 after buying an additional 233 shares during the last quarter. Riversedge Advisors LLC increased its holdings in PulteGroup by 16.8% during the fourth quarter. Riversedge Advisors LLC now owns 2,199 shares of the construction company’s stock valued at $258,000 after buying an additional 316 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in PulteGroup by 9.8% during the fourth quarter. Everhart Financial Group Inc. now owns 7,097 shares of the construction company’s stock valued at $832,000 after buying an additional 635 shares during the last quarter. AIA Group Ltd raised its position in PulteGroup by 138.3% in the third quarter. AIA Group Ltd now owns 17,357 shares of the construction company’s stock worth $2,293,000 after acquiring an additional 10,074 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of PulteGroup by 2.6% during the 3rd quarter. Allworth Financial LP now owns 9,031 shares of the construction company’s stock worth $1,193,000 after acquiring an additional 227 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.