PulteGroup (NYSE:PHM) Price Target Cut to $140.00 by Analysts at Bank of America

PulteGroup (NYSE:PHM) had its price target dropped by research analysts at Bank of America from $145.00 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective indicates a potential upside of 9.72% from the stock’s previous close.

Several other research analysts have also weighed in on PHM. The Goldman Sachs Group reduced their target price on PulteGroup from $150.00 to $133.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Raymond James Financial restated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a report on Wednesday, February 4th. Evercore upgraded PulteGroup from an “in-line” rating to an “outperform” rating and set a $146.00 price target on the stock in a report on Monday, April 13th. Finally, Truist Financial cut their price target on PulteGroup from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.79.

PulteGroup Trading Up 0.8%

PHM stock traded up $1.07 during midday trading on Monday, hitting $127.60. 292,850 shares of the company’s stock were exchanged, compared to its average volume of 1,863,984. The stock’s fifty day moving average price is $126.54 and its 200-day moving average price is $124.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $24.45 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.48 and a beta of 1.33. PulteGroup has a one year low of $91.76 and a one year high of $144.49.

Insider Buying and Selling

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

Institutional Trading of PulteGroup

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup during the fourth quarter worth about $31,000. HHM Wealth Advisors LLC raised its holdings in PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. DV Equities LLC bought a new stake in PulteGroup during the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. bought a new stake in PulteGroup during the fourth quarter worth about $33,000. Finally, Private Wealth Management Group LLC raised its holdings in 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 acquiring an additional 200 shares in the last quarter. 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.