PulteGroup (PHM) Cut to Neutral at Buckingham Research

PulteGroup (NYSE:PHM) was downgraded by analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Sunday, November 26th. They presently have a $33.00 price objective on the construction company’s stock, up from their previous price objective of $31.00. Buckingham Research’s price objective would indicate a potential downside of 1.46% from the company’s current price.

Other research analysts have also recently issued reports about the company. B. Riley reissued a “buy” rating on shares of PulteGroup in a report on Wednesday, November 1st. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Barclays set a $26.00 price objective on PulteGroup and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Bank of America set a $34.00 price objective on PulteGroup and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.92.

Shares of PulteGroup (PHM) opened at $33.49 on Friday. The stock has a market cap of $10,124.24, a price-to-earnings ratio of 16.80, a PEG ratio of 0.92 and a beta of 1.21. PulteGroup has a 52 week low of $18.18 and a 52 week high of $34.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.25 and a quick ratio of 0.25.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. PulteGroup’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. research analysts expect that PulteGroup will post 2.2 EPS for the current year.

In related news, insider James R. Ellinghausen sold 136,912 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the transaction, the insider now directly owns 294,369 shares of the company’s stock, valued at approximately $8,742,759.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James R. Ellinghausen sold 67,490 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in shares of PulteGroup by 3.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after purchasing an additional 148 shares in the last quarter. Invictus RG lifted its position in shares of PulteGroup by 1,473.4% during the 3rd quarter. Invictus RG now owns 4,264 shares of the construction company’s stock worth $117,000 after buying an additional 3,993 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of PulteGroup during the 3rd quarter worth $150,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of PulteGroup by 7.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock worth $168,000 after buying an additional 465 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of PulteGroup during the 2nd quarter worth $220,000. 84.80% of the stock is currently owned by hedge funds and other institutional investors.

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PulteGroup Company Profile

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.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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