Evercore ISI Lowers PulteGroup (NYSE:PHM) Price Target to $195.00

PulteGroup (NYSE:PHM) had its price objective cut by equities researchers at Evercore ISI from $198.00 to $195.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 44.76% from the stock’s current price.

PHM has been the topic of several other reports. UBS Group lifted their price target on PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Oppenheimer decreased their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup decreased their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Up 0.7 %

Shares of PulteGroup stock traded up $0.90 during trading on Wednesday, hitting $134.71. 473,831 shares of the stock traded hands, compared to its average volume of 1,827,418. The company has a fifty day moving average price of $136.45 and a two-hundred day moving average price of $122.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup has a twelve month low of $68.80 and a twelve month high of $149.47. The stock has a market cap of $27.96 billion, a P/E ratio of 10.28, a PEG ratio of 0.61 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 EPS. Equities research analysts predict that PulteGroup will post 12.9 EPS for the current fiscal year.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value 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 approximately $12,043,420.09. This 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 link. In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction 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 $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in PulteGroup by 97.3% during the third quarter. Assenagon Asset Management S.A. now owns 46,603 shares of the construction company’s stock valued at $6,689,000 after purchasing an additional 22,982 shares during the last quarter. Bogart Wealth LLC boosted its position in PulteGroup by 44.6% during the third quarter. Bogart Wealth LLC now owns 45,813 shares of the construction company’s stock valued at $6,576,000 after purchasing an additional 14,131 shares during the last quarter. American Institute for Advanced Investment Management LLP lifted its position in shares of PulteGroup by 15.9% in the third quarter. American Institute for Advanced Investment Management LLP now owns 2,290 shares of the construction company’s stock valued at $329,000 after buying an additional 315 shares during the last quarter. Jackson Wealth Management LLC acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $1,199,000. Finally, CENTRAL TRUST Co lifted its position in shares of PulteGroup by 47.2% in the third quarter. CENTRAL TRUST Co now owns 9,335 shares of the construction company’s stock valued at $1,340,000 after buying an additional 2,994 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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.