PulteGroup (NYSE:PHM) Given New $119.00 Price Target at Citigroup

PulteGroup (NYSE:PHM) had its target price cut by stock analysts at Citigroup from $146.00 to $119.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup’s target price points to a potential upside of 9.45% from the company’s previous close.

PHM has been the subject of a number of other reports. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wedbush upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday. Evercore ISI dropped their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $144.29.

PulteGroup Stock Performance

PHM stock traded down $1.32 during midday trading on Monday, hitting $108.73. The stock had a trading volume of 994,259 shares, compared to its average volume of 1,385,481. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $124.17 and a 200 day simple moving average of $126.99. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.48 and a beta of 1.67.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the business earned $2.90 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that PulteGroup will post 12.94 earnings per share for the current year.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors have recently made changes to their positions in PHM. Franklin Resources Inc. grew its position in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock worth $1,647,364,000 after buying an additional 585,735 shares during the period. FMR LLC grew its holdings in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock valued at $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Greenhaven Associates Inc. raised its holdings in PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares during the period. Pacer Advisors Inc. boosted its position in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PulteGroup by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after buying an additional 135,391 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

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.