PulteGroup, Inc. (PHM) Receives $24.91 Consensus PT from Analysts
PulteGroup, Inc. (NYSE:PHM) has received an average recommendation of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat reports. One equities 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. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.91.
Several equities research analysts have commented on PHM shares. BidaskClub lowered shares of PulteGroup from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, July 4th. Bank of America Corporation reaffirmed a “buy” rating and issued a $30.00 price target (up from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. Barclays PLC lowered shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a report on Tuesday, July 11th. They noted that the move was a valuation call. Finally, UBS AG lowered shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th.
Shares of PulteGroup (NYSE:PHM) traded up 0.74% during trading on Tuesday, reaching $26.01. The company had a trading volume of 614,000 shares. The company’s 50 day moving average is $24.96 and its 200-day moving average is $23.68. PulteGroup has a 1-year low of $17.69 and a 1-year high of $26.05. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 14.39 and a beta of 1.14.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that PulteGroup will post $2.09 earnings per share for the current year.
In related news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Hartwell J M Limited Partnership increased its position in PulteGroup by 4.3% in the second quarter. Hartwell J M Limited Partnership now owns 22,850 shares of the construction company’s stock valued at $561,000 after buying an additional 950 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in PulteGroup during the second quarter valued at $2,631,000. Commerce Bank bought a new position in PulteGroup during the first quarter valued at $207,000. Bank of Montreal Can increased its position in PulteGroup by 129.1% in the second quarter. Bank of Montreal Can now owns 669,271 shares of the construction company’s stock valued at $16,417,000 after buying an additional 377,181 shares during the period. Finally, First Trust Advisors LP increased its position in PulteGroup by 30.0% in the first quarter. First Trust Advisors LP now owns 1,264,856 shares of the construction company’s stock valued at $29,787,000 after buying an additional 291,555 shares during the period. Hedge funds and other institutional investors own 85.82% 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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