PulteGroup (NYSE:PHM) PT Lowered to $117.00

PulteGroup (NYSE:PHM) had its target price lowered by equities researchers at Citigroup from $129.00 to $117.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 12.40% from the company’s previous close.

PHM has been the subject of a number of other reports. Raymond James reiterated an “outperform” rating and issued a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Jefferies Financial Group lifted their target price on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer lifted their target price on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.21.

PulteGroup Trading Down 2.0 %

Shares of PHM traded down $2.14 during mid-day trading on Tuesday, reaching $104.09. 1,505,159 shares of the company were exchanged, compared to its average volume of 1,775,697. PulteGroup has a 52 week low of $68.80 and a 52 week high of $122.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $21.89 billion, a PE ratio of 8.34, a PEG ratio of 0.49 and a beta of 1.61. The business has a 50 day simple moving average of $114.11 and a two-hundred day simple moving average of $109.78.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.59 billion. On average, analysts predict that PulteGroup will post 12.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Certuity LLC bought a new stake in PulteGroup during the fourth quarter worth $245,000. Nordea Investment Management AB lifted its holdings in PulteGroup by 4.0% during the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after acquiring an additional 28,833 shares during the period. Banque Cantonale Vaudoise lifted its holdings in PulteGroup by 166.6% during the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after acquiring an additional 8,215 shares during the period. Personal CFO Solutions LLC bought a new stake in PulteGroup during the fourth quarter worth $719,000. Finally, Truist Financial Corp raised its stake in shares of PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock valued at $19,738,000 after buying an additional 136,370 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.