PulteGroup, Inc. (PHM) Downgraded by Buckingham Research to “Neutral”
Buckingham Research downgraded shares of PulteGroup, Inc. (NYSE:PHM) from a buy rating to a neutral rating in a report issued on Tuesday morning. The brokerage currently has $33.00 target price on the construction company’s stock.
A number of other equities analysts have also recently issued reports on PHM. B. Riley restated a buy rating on shares of PulteGroup in a research note on Wednesday, November 1st. KeyCorp restated a hold rating on shares of PulteGroup in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of PulteGroup from a buy rating to a hold rating in a research note on Monday, October 30th. Barclays PLC set a $26.00 price objective on shares of PulteGroup and gave the company a hold rating in a research note on Wednesday, October 25th. Finally, Bank of America Corporation set a $34.00 target price on shares of PulteGroup and gave the stock a buy rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $29.92.
Shares of PulteGroup (PHM) traded up $0.20 during trading on Tuesday, reaching $31.77. 4,317,600 shares of the company’s stock were exchanged, compared to its average volume of 5,069,419. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.72. PulteGroup has a 12-month low of $18.18 and a 12-month high of $31.88. The company has a market cap of $9,280.56, a P/E ratio of 15.40, a PEG ratio of 0.92 and a beta of 1.18.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.43 EPS. The business’s revenue was up 9.6% on a year-over-year basis. analysts forecast that PulteGroup will post 2.18 earnings per share for the current year.
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In related news, insider James R. Ellinghausen sold 136,912 shares of PulteGroup stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the transaction, the insider now owns 294,369 shares of the company’s stock, valued at approximately $8,742,759.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Flinton Capital Management LLC lifted its stake in PulteGroup by 0.4% in the second quarter. Flinton Capital Management LLC now owns 12,288 shares of the construction company’s stock valued at $302,000 after buying an additional 48 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after purchasing an additional 148 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in shares of PulteGroup by 1.2% in the second quarter. Riverhead Capital Management LLC now owns 13,673 shares of the construction company’s stock valued at $336,000 after purchasing an additional 159 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of PulteGroup by 1.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 10,417 shares of the construction company’s stock valued at $256,000 after purchasing an additional 172 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC raised its holdings in shares of PulteGroup by 0.4% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 39,600 shares of the construction company’s stock valued at $971,000 after purchasing an additional 175 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
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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