PulteGroup, Inc. (NYSE:PHM)‘s stock had its “outperform” rating reissued by stock analysts at FBR & Co in a note issued to investors on Wednesday. They currently have a $28.00 target price on the construction company’s stock, up from their prior target price of $26.00. FBR & Co’s price target would suggest a potential upside of 14.10% from the stock’s current price. FBR & Co also issued estimates for PulteGroup’s Q4 2017 earnings at $0.84 EPS.
PHM has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, July 4th. Wedbush reiterated an “underperform” rating and issued a $15.00 price objective on shares of PulteGroup in a report on Tuesday, April 25th. Mizuho initiated coverage on shares of PulteGroup in a report on Tuesday, May 16th. They issued a “neutral” rating and a $22.00 price objective on the stock. BidaskClub lowered shares of PulteGroup from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Barclays PLC lowered shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock. in a report on Tuesday, July 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.91.
PulteGroup (NYSE:PHM) traded down 0.306% during trading on Wednesday, reaching $24.465. The company had a trading volume of 1,504,054 shares. The company has a market capitalization of $7.72 billion, a PE ratio of 13.509 and a beta of 1.15. PulteGroup has a 52-week low of $17.69 and a 52-week high of $25.20. The stock has a 50 day moving average price of $24.19 and a 200-day moving average price of $22.75.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data 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 net margin of 7.77% and a return on equity of 12.74%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that PulteGroup will post $2.21 earnings per share for the current fiscal year.
In related news, Director Brian P. Anderson sold 14,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were 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 owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in PHM. 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 in 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 in the last quarter. 87.85% of the stock is owned by institutional investors and hedge funds.
About PulteGroup
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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