PulteGroup (NYSE:PHM) Rating Increased to Outperform at Zelman & Associates

PulteGroup (NYSE:PHM) was upgraded by investment analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Benzinga reports.

A number of other analysts have also issued reports on PHM. Wedbush reiterated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Citigroup raised their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Oppenheimer upped their target price on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Down 0.8 %

Shares of NYSE PHM opened at $111.36 on Wednesday. The stock has a market capitalization of $23.42 billion, a PE ratio of 8.92, a P/E/G ratio of 0.54 and a beta of 1.56. PulteGroup has a one year low of $64.41 and a one year high of $121.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. The business’s fifty day moving average price is $111.04 and its 200-day moving average price is $99.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the firm earned $3.63 EPS. PulteGroup’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, equities research analysts anticipate that PulteGroup will post 11.96 EPS for the current year.

PulteGroup declared that its board has approved a stock buyback program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in PulteGroup by 2.9% in the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock worth $371,000 after buying an additional 100 shares in the last quarter. Global Retirement Partners LLC raised its position in PulteGroup by 4.9% in the 1st quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock worth $269,000 after buying an additional 103 shares during the last quarter. Aprio Wealth Management LLC raised its holdings in shares of PulteGroup by 3.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock valued at $370,000 after purchasing an additional 107 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after buying an additional 112 shares during the period. Finally, KMG Fiduciary Partners LLC lifted its holdings in PulteGroup by 4.1% in the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock valued at $320,000 after acquiring an additional 121 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.