PulteGroup (NYSE:PHM – Get Free Report) had its target price upped by investment analysts at BTIG Research from $139.00 to $156.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. BTIG Research’s price target indicates a potential upside of 14.84% from the company’s current price.
A number of other brokerages have also recently commented on PHM. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company raised their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Raymond James boosted their price objective on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer raised their target price on shares of PulteGroup from $151.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays lifted their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.00.
Check Out Our Latest Stock Report on PulteGroup
PulteGroup Trading Up 2.0 %
PulteGroup (NYSE:PHM – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 earnings per share. Analysts predict that PulteGroup will post 12.9 EPS for the current year.
Insider Activity
In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup 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 transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of PulteGroup by 22.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 119,794 shares of the construction company’s stock worth $17,218,000 after acquiring an additional 22,186 shares during the last quarter. Concord Wealth Partners lifted its position in shares of PulteGroup by 1.7% during the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of PulteGroup by 7,042.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 500 shares of the construction company’s stock worth $72,000 after purchasing an additional 493 shares during the last quarter. Custom Index Systems LLC boosted its stake in shares of PulteGroup by 42.3% during the third quarter. Custom Index Systems LLC now owns 3,449 shares of the construction company’s stock valued at $495,000 after purchasing an additional 1,025 shares during the period. Finally, Ellis Investment Partners LLC grew its holdings in shares of PulteGroup by 4.3% in the third quarter. Ellis Investment Partners LLC now owns 25,585 shares of the construction company’s stock worth $3,672,000 after purchasing an additional 1,056 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.
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.
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