PulteGroup, Inc. (PHM) Debt Trading 0.9% Lower
An issue of PulteGroup, Inc. (NYSE:PHM) debt fell 0.9% against its face value during trading on Friday. The high-yield issue of debt has a 5.5% coupon and will mature on March 1, 2026. The debt is now trading at $107.38 and was trading at $107.21 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
Several research firms have recently weighed in on PHM. BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Zacks Investment Research cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Wedbush upgraded shares of PulteGroup from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $22.00 in a report on Thursday, July 13th. UBS AG cut shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Finally, FBR & Co restated an “outperform” rating and set a $28.00 target price (up previously from $26.00) on shares of PulteGroup in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $25.08.
PulteGroup, Inc. (NYSE:PHM) traded up 1.61% during mid-day trading on Friday, reaching $25.31. 3,184,484 shares of the company’s stock traded hands. The company has a 50 day moving average price of $24.86 and a 200-day moving average price of $23.54. The stock has a market cap of $7.64 billion, a P/E ratio of 14.01 and a beta of 1.14. PulteGroup, Inc. has a 12 month low of $17.69 and a 12 month high of $26.00.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.37 EPS. PulteGroup’s revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that PulteGroup, Inc. will post $2.09 EPS for the current year.
In related news, Director Brian P. Anderson sold 14,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the transaction, the director now owns 108,744 shares in the company, valued at approximately $2,520,685.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its position in PulteGroup by 68.5% in the second quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock worth $1,017,000 after buying an additional 400 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after buying an additional 148 shares during the last quarter. IFP Advisors Inc boosted its position in PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in PulteGroup during the first quarter worth about $155,000. Institutional investors own 88.12% of the company’s stock.
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PulteGroup Company Profile
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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