PulteGroup (NYSE:PHM) Price Target Cut to $165.00 by Analysts at Oppenheimer

PulteGroup (NYSE:PHM) had its price objective decreased by investment analysts at Oppenheimer from $168.00 to $165.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target suggests a potential upside of 21.47% from the company’s current price.

A number of other research firms also recently issued reports on PHM. Barclays boosted their price target on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Raymond James lifted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Up 2.0 %

PHM stock opened at $135.84 on Wednesday. The stock has a market capitalization of $28.19 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.76. PulteGroup has a 1-year low of $70.21 and a 1-year high of $149.47. The business has a fifty day moving average price of $136.67 and a 200-day moving average price of $122.95.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 EPS. Equities analysts forecast that PulteGroup will post 12.9 earnings per share for the current fiscal year.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,000 shares of company stock valued at $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several institutional investors have recently bought and sold shares of the business. Grove Bank & Trust increased its holdings in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after buying an additional 72 shares during the last quarter. WR Wealth Planners LLC grew its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Cromwell Holdings LLC increased its stake in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after acquiring an additional 83 shares during the last quarter. Concord Wealth Partners raised its position in PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after purchasing an additional 83 shares during the period. Finally, Lebenthal Global Advisors LLC raised its position in PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after purchasing an additional 87 shares during the period. 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.