Wells Fargo & Company Cuts PulteGroup (NYSE:PHM) Price Target to $140.00

PulteGroup (NYSE:PHM) had its price target cut by stock analysts at Wells Fargo & Company from $165.00 to $140.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 25.80% from the company’s previous close.

Several other equities analysts have also commented on the company. Bank of America raised their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Evercore ISI lowered their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Oppenheimer cut 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, October 23rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Price Performance

Shares of NYSE PHM opened at $111.29 on Tuesday. PulteGroup has a 1 year low of $99.03 and a 1 year high of $149.47. The stock has a market capitalization of $22.82 billion, a P/E ratio of 8.21, a P/E/G ratio of 0.48 and a beta of 1.62. The company’s 50-day moving average is $131.58 and its 200 day moving average is $127.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last posted 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 firm 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 25.30% and a net margin of 16.64%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.90 EPS. On average, sell-side analysts expect that PulteGroup will post 12.94 earnings per share for the current year.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently modified their holdings of PHM. Franklin Resources Inc. lifted its holdings in PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after acquiring an additional 585,735 shares during the period. FMR LLC grew its stake in shares of PulteGroup by 102.3% during the 3rd 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. increased its position in shares of PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after purchasing an additional 16,871 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of PulteGroup by 8.6% in the 2nd 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PulteGroup by 7.8% in the third 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 worth $267,546,000 after buying an additional 135,391 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

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.