BTIG Research Increases PulteGroup (NYSE:PHM) Price Target to $156.00

PulteGroup (NYSE:PHM - Get Free Report) had its target price hoisted by research analysts at BTIG Research from $139.00 to $156.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. BTIG Research's target price indicates a potential upside of 16.61% from the company's current price.

A number of other brokerages also recently weighed in on PHM. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Citigroup reduced their target price on PulteGroup from $129.00 to $117.00 and set a "neutral" rating on the stock in a report on Tuesday, July 2nd. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Finally, Wolfe Research downgraded PulteGroup from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $142.36.

PulteGroup Price Performance

Shares of NYSE PHM opened at $133.78 on Wednesday. The firm has a market cap of $27.76 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62. PulteGroup has a 1-year low of $68.80 and a 1-year high of $149.47. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $136.45 and its 200-day moving average is $122.87.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.90 earnings per share. Equities research analysts predict that PulteGroup will post 12.9 earnings per share for the current year.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares of the company's stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares of the company's stock, valued at $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock valued at $15,814,039 in the last ninety days. 0.83% of the stock is owned by company insiders.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Wellington Management Group LLP bought a new position in shares of PulteGroup in the fourth quarter valued at approximately $5,731,000. Gateway Investment Advisers LLC grew its holdings in shares of PulteGroup by 14.1% in the first quarter. Gateway Investment Advisers LLC now owns 8,613 shares of the construction company's stock valued at $1,039,000 after acquiring an additional 1,064 shares in the last quarter. DGS Capital Management LLC bought a new position in shares of PulteGroup in the first quarter valued at approximately $251,000. ERn Financial LLC bought a new position in shares of PulteGroup in the first quarter valued at approximately $215,000. Finally, 180 Wealth Advisors LLC grew its holdings in shares of PulteGroup by 59.0% in the first quarter. 180 Wealth Advisors LLC now owns 3,505 shares of the construction company's stock valued at $423,000 after acquiring an additional 1,301 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

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.

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