PulteGroup (NYSE:PHM) Given “Outperform” Rating at Wedbush

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They currently have a $135.00 target price on the construction company’s stock. Wedbush’s target price would indicate a potential upside of 34.08% from the company’s previous close.

A number of other research analysts have also recently weighed in on PHM. Wells Fargo & Company dropped their price objective on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Barclays reduced their price objective on PulteGroup from $117.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. UBS Group increased their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Citigroup lowered their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group lowered their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.21.

PulteGroup Price Performance

NYSE PHM traded up $7.58 during trading hours on Tuesday, reaching $100.69. The company’s stock had a trading volume of 979,315 shares, compared to its average volume of 1,994,227. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 0.29 and a beta of 1.44. PulteGroup has a 1-year low of $88.07 and a 1-year high of $149.47. The company’s 50-day moving average is $101.78 and its two-hundred day moving average is $115.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. On average, equities analysts predict that PulteGroup will post 12.32 EPS for the current year.

PulteGroup declared that its board has approved a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,191 shares of company stock worth $2,256,367. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Several large investors have recently made changes to their positions in PHM. Nilsine Partners LLC increased its position in PulteGroup by 20.3% during the first quarter. Nilsine Partners LLC now owns 24,749 shares of the construction company’s stock worth $2,544,000 after buying an additional 4,175 shares during the last quarter. Aspire Private Capital LLC grew its holdings in PulteGroup by 6.9% during the first quarter. Aspire Private Capital LLC now owns 10,838 shares of the construction company’s stock valued at $1,114,000 after purchasing an additional 696 shares during the last quarter. OLD Second National Bank of Aurora raised its holdings in PulteGroup by 1.1% in the 1st quarter. OLD Second National Bank of Aurora now owns 41,759 shares of the construction company’s stock worth $4,293,000 after acquiring an additional 441 shares during the period. River Street Advisors LLC increased its stake in shares of PulteGroup by 8.0% in the first quarter. River Street Advisors LLC now owns 7,898 shares of the construction company’s stock worth $812,000 after purchasing an additional 582 shares during the period. Finally, Duncan Williams Asset Management LLC grew its holdings in PulteGroup by 13.3% in the 1st quarter. Duncan Williams Asset Management LLC now owns 7,860 shares of the construction company’s stock valued at $808,000 after buying an additional 923 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.