Wells Fargo & Company Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target lowered by equities research analysts at Wells Fargo & Company from $150.00 to $132.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.93% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on PHM. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Oppenheimer reiterated an “outperform” rating and set a $149.00 price target (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. Evercore lifted their price target on shares of PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Finally, Barclays dropped their price target on shares of PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.21.

PulteGroup Price Performance

PulteGroup stock opened at $122.31 on Wednesday. PulteGroup has a 12-month low of $89.81 and a 12-month high of $144.49. The stock has a market cap of $23.43 billion, a P/E ratio of 11.00, a PEG ratio of 1.40 and a beta of 1.33. The company has a 50-day moving average price of $127.60 and a 200 day moving average price of $125.28. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other news, COO Matthew William Koart sold 15,309 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the completion of the transaction, the chief operating officer owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the completion of the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of PulteGroup by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock valued at $1,589,495,000 after purchasing an additional 655,033 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of PulteGroup by 126.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after purchasing an additional 2,392,580 shares during the period. First Trust Advisors LP boosted its stake in shares of PulteGroup by 10.4% in the fourth quarter. First Trust Advisors LP now owns 4,000,920 shares of the construction company’s stock valued at $469,148,000 after purchasing an additional 377,003 shares during the period. Norges Bank purchased a new position in shares of PulteGroup in the fourth quarter valued at approximately $466,653,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in PulteGroup in the third quarter worth approximately $315,883,000. Hedge funds and other 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.