PulteGroup (NYSE:PHM) PT Raised to $71.00 at Bank of America

Posted by on Apr 28th, 2023

PulteGroup (NYSE:PHM – Get Rating) had its target price lifted by investment analysts at Bank of America from $65.00 to $71.00 in a research note issued on Wednesday, The Fly reports. Bank of America‘s target price would indicate a potential upside of 7.14% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Wolfe Research raised shares of PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Wednesday, March 22nd. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. Barclays lifted their price target on shares of PulteGroup from $75.00 to $86.00 in a research note on Wednesday. Wedbush lifted their price target on shares of PulteGroup from $47.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.86.

PulteGroup Stock Performance

Shares of PHM stock opened at $66.27 on Wednesday. The company’s fifty day simple moving average is $57.13 and its 200-day simple moving average is $49.89. PulteGroup has a 52 week low of $35.03 and a 52 week high of $66.27. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22. The company has a market cap of $14.87 billion, a PE ratio of 5.97, a P/E/G ratio of 0.55 and a beta of 1.33.

PulteGroup (NYSE:PHM – Get Rating) last issued its earnings results on Tuesday, April 25th. The construction company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.57. PulteGroup had a net margin of 16.22% and a return on equity of 31.03%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $1.83 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PulteGroup will post 7.44 EPS for the current year.

PulteGroup declared that its board has approved a stock buyback plan on Tuesday, April 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, EVP Todd N. Sheldon sold 15,998 shares of PulteGroup stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total value of $861,172.34. Following the completion of the transaction, the executive vice president now directly owns 82,339 shares of the company’s stock, valued at approximately $4,432,308.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PulteGroup news, EVP Todd N. Sheldon sold 15,998 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $53.83, for a total transaction of $861,172.34. Following the completion of the transaction, the executive vice president now directly owns 82,339 shares of the company’s stock, valued at approximately $4,432,308.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brien P. O’meara sold 4,924 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $295,440.00. Following the transaction, the vice president now directly owns 17,308 shares of the company’s stock, valued at $1,038,480. The disclosure for this sale can be found here. In the last three months, insiders sold 50,739 shares of company stock valued at $2,845,149. Company insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of PulteGroup by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after buying an additional 261,934 shares in the last quarter. Putnam Investments LLC raised its position in shares of PulteGroup by 4.6% during the 4th quarter. Putnam Investments LLC now owns 9,603,310 shares of the construction company’s stock worth $437,239,000 after buying an additional 421,474 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PulteGroup by 6.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,118,354 shares of the construction company’s stock worth $324,104,000 after buying an additional 451,733 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of PulteGroup by 8.2% during the 3rd quarter. Alliancebernstein L.P. now owns 5,711,291 shares of the construction company’s stock worth $214,173,000 after buying an additional 433,627 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its position in shares of PulteGroup by 0.3% during the 1st quarter. Greenhaven Associates Inc. now owns 5,638,390 shares of the construction company’s stock worth $328,605,000 after buying an additional 14,400 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

(Get Rating)

PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.

Read More

The Fly logo

Analyst Recommendations for PulteGroup (NYSE:PHM)

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.