PulteGroup (NYSE:PHM) Raised to “Strong-Buy” at Truist Financial

PulteGroup (NYSE:PHM) was upgraded by Truist Financial to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Oppenheimer reissued an “outperform” rating and set a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Barclays set a $115.00 price objective on shares of PulteGroup in a research note on Monday, December 8th. Finally, Wells Fargo & Company boosted their target price on PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Stock Up 0.2%

PHM stock opened at $132.33 on Tuesday. The stock has a market cap of $25.45 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32. The firm’s 50-day simple moving average is $130.22 and its 200 day simple moving average is $127.72. PulteGroup has a fifty-two week low of $88.07 and a fifty-two week high of $144.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

Insider Activity

In related news, insider Ryan Marshall sold 111,250 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the sale, the insider directly owned 659,392 shares of the company’s stock, valued at approximately $88,266,213.12. This represents a 14.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the completion of the sale, the executive vice president directly owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently made changes to their positions in PHM. Caitong International Asset Management Co. Ltd bought a new position in shares of PulteGroup during the 4th quarter valued at $525,000. MidFirst Bank bought a new stake in shares of PulteGroup during the 4th quarter worth about $8,146,000. SG Trading Solutions LLC acquired a new position in shares of PulteGroup during the 4th quarter valued at about $202,000. Pacer Advisors Inc. raised its stake in shares of PulteGroup by 8.1% in the 4th quarter. Pacer Advisors Inc. now owns 735,921 shares of the construction company’s stock valued at $86,294,000 after acquiring an additional 55,206 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its position in PulteGroup by 127.3% during the fourth quarter. Kera Capital Partners Inc. now owns 4,475 shares of the construction company’s stock worth $560,000 after purchasing an additional 2,506 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.