Barclays Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its target price dropped by stock analysts at Barclays from $115.00 to $112.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price would indicate a potential downside of 8.43% from the company’s previous close.

PHM has been the topic of several other reports. Zacks Research cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research note on Wednesday, February 4th. Truist Financial started coverage on shares of PulteGroup in a research note on Wednesday, March 4th. They set a “buy” rating and a $170.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Finally, Citizens Jmp started coverage on shares of PulteGroup in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $145.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.21.

PulteGroup Stock Performance

Shares of PHM opened at $122.31 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $23.43 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.40 and a beta of 1.33. The company’s fifty day moving average is $127.60 and its two-hundred day moving average is $125.28. PulteGroup has a 1 year low of $89.81 and a 1 year high of $144.49.

Insider Buying and Selling at PulteGroup

In other news, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer owned 42,418 shares in the company, valued at $5,759,940.22. This represents a 26.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 149,952 shares of company stock worth $20,162,165. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC boosted its position in shares of PulteGroup by 18.3% in the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after buying an additional 75 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after buying an additional 78 shares in the last quarter. Stephens Inc. AR boosted its position in shares of PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after buying an additional 80 shares in the last quarter. Apella Capital LLC boosted its position in shares of PulteGroup by 4.2% in the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock worth $268,000 after buying an additional 87 shares in the last quarter. Finally, CWM LLC boosted its position in shares of PulteGroup by 0.6% in the 3rd quarter. CWM LLC now owns 14,308 shares of the construction company’s stock worth $1,890,000 after buying an additional 92 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.