PulteGroup, Inc. (PHM) Given Average Rating of “Hold” by Brokerages

Shares of PulteGroup, Inc. (NYSE:PHM) have earned a consensus rating of “Hold” from the nineteen research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.64.

PHM has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of PulteGroup from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $37.50 to $28.00 in a report on Friday, September 21st. ValuEngine lowered shares of PulteGroup from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Bank of America set a $32.00 price objective on shares of PulteGroup and gave the company a “buy” rating in a report on Thursday, October 11th. BTIG Research raised shares of PulteGroup from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Wednesday, October 24th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $24.00 target price (down previously from $34.00) on shares of PulteGroup in a research note on Monday, October 22nd.

In other PulteGroup news, Director Brian P. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $28.96, for a total transaction of $144,800.00. Following the sale, the director now owns 101,235 shares of the company’s stock, valued at $2,931,765.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PHM. LSV Asset Management raised its holdings in PulteGroup by 121.7% during the third quarter. LSV Asset Management now owns 8,122,687 shares of the construction company’s stock worth $201,198,000 after purchasing an additional 4,459,360 shares in the last quarter. American Century Companies Inc. raised its holdings in PulteGroup by 53.9% during the third quarter. American Century Companies Inc. now owns 6,096,979 shares of the construction company’s stock worth $151,022,000 after purchasing an additional 2,136,034 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PulteGroup by 26.5% during the third quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock worth $216,733,000 after purchasing an additional 1,834,260 shares in the last quarter. Morgan Stanley raised its holdings in PulteGroup by 35.9% during the second quarter. Morgan Stanley now owns 3,812,643 shares of the construction company’s stock worth $109,614,000 after purchasing an additional 1,007,452 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in PulteGroup by 163.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,517,431 shares of the construction company’s stock worth $37,586,000 after purchasing an additional 942,057 shares in the last quarter. 90.27% of the stock is currently owned by institutional investors.

Shares of PHM traded up $0.33 during mid-day trading on Thursday, reaching $25.66. The stock had a trading volume of 5,473,706 shares, compared to its average volume of 8,685,838. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.64. PulteGroup has a 52-week low of $20.64 and a 52-week high of $35.21. The firm has a market capitalization of $7.11 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.42 and a beta of 0.92.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.06. PulteGroup had a net margin of 8.63% and a return on equity of 21.98%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. PulteGroup’s quarterly revenue was up 24.3% on a year-over-year basis. Equities research analysts predict that PulteGroup will post 3.58 earnings per share for the current fiscal year.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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