PulteGroup (NYSE:PHM) Downgraded to “Neutral” at Seaport Global Securities

Seaport Global Securities downgraded shares of PulteGroup (NYSE:PHM) from a buy rating to a neutral rating in a research report released on Monday, Benzinga’s Daily Ratings Newsletter reports.

Other equities analysts have also issued reports about the stock. Buckingham Research raised their price objective on shares of PulteGroup from $37.00 to $41.00 and gave the company a neutral rating in a research report on Thursday, October 24th. Royal Bank of Canada set a $33.00 price objective on shares of PulteGroup and gave the company a hold rating in a research report on Monday, August 26th. ValuEngine upgraded shares of PulteGroup from a sell rating to a hold rating in a research report on Friday, November 1st. Wedbush raised their price objective on shares of PulteGroup from $28.00 to $34.00 and gave the company a neutral rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research upgraded shares of PulteGroup from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $35.65.

Shares of PHM stock traded up $0.13 during trading hours on Monday, reaching $38.18. The stock had a trading volume of 3,617,783 shares, compared to its average volume of 3,971,696. The stock’s fifty day simple moving average is $37.74 and its 200 day simple moving average is $33.75. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.53. PulteGroup has a 12 month low of $23.21 and a 12 month high of $41.22. The firm has a market capitalization of $10.37 billion, a PE ratio of 10.64, a PEG ratio of 1.35 and a beta of 0.64.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. PulteGroup had a net margin of 9.01% and a return on equity of 20.02%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $1.01 earnings per share. PulteGroup’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that PulteGroup will post 3.53 EPS for the current fiscal year.

In other PulteGroup news, SVP James L. Ossowski sold 10,000 shares of PulteGroup stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $39.95, for a total transaction of $399,500.00. Following the completion of the sale, the senior vice president now directly owns 25,750 shares in the company, valued at $1,028,712.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.49% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of PulteGroup by 2.6% in the 2nd quarter. BlackRock Inc. now owns 21,336,247 shares of the construction company’s stock worth $674,650,000 after acquiring an additional 533,396 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of PulteGroup by 13.4% in the 2nd quarter. AQR Capital Management LLC now owns 8,405,551 shares of the construction company’s stock worth $265,783,000 after acquiring an additional 990,999 shares during the last quarter. LSV Asset Management lifted its holdings in shares of PulteGroup by 0.4% in the 2nd quarter. LSV Asset Management now owns 8,322,496 shares of the construction company’s stock worth $263,157,000 after acquiring an additional 35,000 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of PulteGroup by 0.4% in the 2nd quarter. Putnam Investments LLC now owns 4,157,343 shares of the construction company’s stock worth $131,455,000 after acquiring an additional 16,350 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of PulteGroup by 9.4% in the 2nd quarter. Invesco Ltd. now owns 2,909,850 shares of the construction company’s stock worth $92,009,000 after acquiring an additional 250,835 shares during the last quarter. Institutional investors and hedge funds own 87.66% of the company’s stock.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.

Featured Story: Conference Calls and Individual Investors

Analyst Recommendations for PulteGroup (NYSE:PHM)

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.