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

PulteGroup (NYSE:PHM) had its price objective reduced by Truist Financial from $170.00 to $150.00 in a research note issued on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price would indicate a potential upside of 18.78% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Seaport Research Partners reaffirmed a “sell” rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research note on Tuesday, April 7th. Barclays lowered their price target on PulteGroup from $115.00 to $112.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. The Goldman Sachs Group lowered their price target on PulteGroup from $150.00 to $133.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.79.

PulteGroup Trading Up 4.8%

NYSE:PHM opened at $126.29 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. PulteGroup has a fifty-two week low of $91.76 and a fifty-two week high of $144.49. The stock’s 50-day moving average is $126.54 and its two-hundred day moving average is $124.92. The stock has a market cap of $24.20 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.33.

Insider Activity at PulteGroup

In other news, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the transaction, the insider directly owned 659,392 shares in the company, valued at $88,266,213.12. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 149,952 shares of company stock valued at $20,162,165. 0.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHM. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $32,000. Lloyd Advisory Services LLC. acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $33,000. Private Wealth Management Group LLC lifted its holdings in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $38,000. 89.90% of the stock is currently 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.