The Goldman Sachs Group Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its target price reduced by research analysts at The Goldman Sachs Group from $150.00 to $133.00 in a research note issued on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 10.49% from the company’s current price.

Other analysts have also recently issued reports about the company. Seaport Research Partners reaffirmed a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Barclays cut their price objective on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Finally, Truist Financial began coverage on shares of PulteGroup in a report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.00.

PulteGroup Stock Down 1.5%

PulteGroup stock opened at $120.37 on Friday. The firm has a market capitalization of $23.06 billion, a PE ratio of 10.82, a P/E/G ratio of 1.40 and a beta of 1.33. The company’s 50-day moving average is $127.51 and its 200-day moving average is $125.18. PulteGroup has a fifty-two week low of $89.81 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This represents a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider directly owned 659,392 shares in the company, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 149,952 shares of company stock valued at $20,162,165. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in PulteGroup by 2.4% during the fourth quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after buying an additional 13,259 shares in the last quarter. Principal Financial Group Inc. grew its position in PulteGroup by 24.2% during the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after buying an additional 61,009 shares in the last quarter. Nisa Investment Advisors LLC grew its position in PulteGroup by 10.5% during the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after buying an additional 10,028 shares in the last quarter. EFG Asset Management Americas Corp. grew its position in PulteGroup by 351.9% during the third quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after buying an additional 36,407 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in PulteGroup during the fourth quarter worth approximately $2,625,000. 89.90% of the stock is owned by institutional investors and hedge funds.

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.