PulteGroup (NYSE:PHM) Rating Increased to Outperform at Zelman & Associates

PulteGroup (NYSE:PHM) was upgraded by stock analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Oppenheimer upped their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research note on Wednesday, January 31st. Barclays increased their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada increased their price target on shares of PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.67.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $0.81 during trading hours on Wednesday, reaching $111.95. 649,105 shares of the company’s stock were exchanged, compared to its average volume of 1,809,853. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. PulteGroup has a 1 year low of $64.41 and a 1 year high of $121.07. The business has a fifty day moving average of $110.73 and a two-hundred day moving average of $98.96. The company has a market capitalization of $23.62 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the prior year, the firm posted $3.63 earnings per share. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, research analysts predict that PulteGroup will post 11.79 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently bought and sold shares of PHM. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of PulteGroup in the 1st quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in shares of PulteGroup in the 4th quarter worth about $37,000. Lindbrook Capital LLC grew its holdings in shares of PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Security National Bank bought a new stake in shares of PulteGroup in the 4th quarter worth about $40,000. Finally, ORG Partners LLC grew its holdings in shares of PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.