PulteGroup (NYSE:PHM) Rating Increased to Hold at Seaport Res Ptn

PulteGroup (NYSE:PHM) was upgraded by Seaport Res Ptn from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms have also commented on PHM. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Citigroup cut their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price objective 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. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Oppenheimer lowered their target price on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Trading Down 0.2 %

Shares of PulteGroup stock opened at $108.06 on Thursday. The stock’s 50-day simple moving average is $109.48 and its 200 day simple moving average is $124.10. PulteGroup has a 52-week low of $100.54 and a 52-week high of $149.47. The stock has a market capitalization of $21.88 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, research analysts anticipate that PulteGroup will post 12.32 EPS for the current year.

PulteGroup announced that its Board of Directors has approved a stock repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total value of $266,125.00. Following the sale, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the third quarter valued at approximately $29,000. Hager Investment Management Services LLC purchased a new stake in shares of PulteGroup during the fourth quarter worth $29,000. Fortitude Family Office LLC raised its position in shares of PulteGroup by 74.1% in the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after buying an additional 137 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth about $37,000. Finally, TD Waterhouse Canada Inc. boosted its position in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after acquiring an additional 105 shares during the last quarter. 89.90% of the stock is 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.