PulteGroup (NYSE:PHM) Raised to “Strong-Buy” at Truist Financial

PulteGroup (NYSE:PHM) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. BTIG Research began coverage on PulteGroup in a report on Monday, December 1st. They issued a “neutral” rating on the stock. UBS Group cut their target price on PulteGroup from $160.00 to $159.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Citigroup lifted their target price on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Zacks Research cut PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Price Performance

PHM traded down $2.74 on Tuesday, reaching $129.44. 580,687 shares of the company’s stock were exchanged, compared to its average volume of 1,832,293. PulteGroup has a twelve month low of $88.07 and a twelve month high of $144.49. The stock has a market cap of $24.90 billion, a PE ratio of 11.64, a P/E/G ratio of 1.54 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $130.22 and its 200-day moving average price is $127.72.

Insider Buying and Selling at PulteGroup

In related news, insider Ryan Marshall sold 111,250 shares of PulteGroup stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the sale, the insider owned 659,392 shares of the company’s stock, valued at $88,266,213.12. The trade was a 14.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the completion of the transaction, the executive vice president directly owned 69,753 shares of the company’s stock, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 149,952 shares of company stock valued at $20,162,165. 0.76% of the stock is owned by company insiders.

Institutional Trading of PulteGroup

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in PulteGroup during the 4th quarter worth approximately $466,653,000. Price T Rowe Associates Inc. MD grew its position in shares of PulteGroup by 126.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock worth $502,366,000 after buying an additional 2,392,580 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of PulteGroup during the third quarter worth approximately $315,883,000. AGF Management Ltd. bought a new stake in shares of PulteGroup in the third quarter worth $174,347,000. Finally, American Century Companies Inc. raised its holdings in PulteGroup by 120.4% in the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock valued at $225,024,000 after acquiring an additional 930,287 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.