PulteGroup, Inc. (NYSE:PHM) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 target price on shares of PulteGroup in a report on Monday, September 25th. Credit Suisse Group set a $35.00 target price on PulteGroup and gave the company a “buy” rating in a report on Tuesday, October 24th. UBS AG initiated coverage on PulteGroup in a report on Wednesday, October 25th. They set a “buy” rating and a $38.00 target price on the stock. Finally, FBR & Co reiterated a “buy” rating and set a $31.00 target price (up from $28.00) on shares of PulteGroup in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $28.67.
PulteGroup (PHM) opened at $31.57 on Tuesday. The firm has a market capitalization of $9,157.09, a PE ratio of 15.19, a PEG ratio of 0.91 and a beta of 1.18. PulteGroup has a 52 week low of $18.18 and a 52 week high of $31.67. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. sell-side analysts anticipate that PulteGroup will post 2.18 earnings per share for the current fiscal year.
In other news, insider James R. Ellinghausen sold 136,912 shares of PulteGroup stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the transaction, the insider now owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of PHM. Fiera Capital Corp acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $45,333,000. LSV Asset Management grew its position in shares of PulteGroup by 150.9% in the 2nd quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock worth $49,779,000 after acquiring an additional 1,220,579 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $29,436,000. Parametric Portfolio Associates LLC grew its position in shares of PulteGroup by 146.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock worth $38,419,000 after acquiring an additional 931,971 shares in the last quarter. Finally, Todd Asset Management LLC grew its position in shares of PulteGroup by 117.0% in the 3rd quarter. Todd Asset Management LLC now owns 1,680,010 shares of the construction company’s stock worth $45,915,000 after acquiring an additional 905,952 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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