PulteGroup (NYSE:PHM) Price Target Increased to $90.00 by Analysts at Barclays

PulteGroup (NYSE:PHM – Get Rating) had its price objective raised by equities researchers at Barclays from $86.00 to $90.00 in a report released on Wednesday, The Fly reports. Barclays‘s price objective would indicate a potential upside of 35.30% from the company’s current price.

Several other equities analysts have also weighed in on PHM. KeyCorp lifted their target price on shares of PulteGroup from $51.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. JPMorgan Chase & Co. increased their target price 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. BTIG Research lifted their price target on PulteGroup from $68.00 to $83.00 in a research note on Wednesday, April 26th. StockNews.com started coverage on PulteGroup in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, VNET Group restated a “maintains” rating on shares of PulteGroup in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.14.

PulteGroup Price Performance

Shares of NYSE PHM opened at $66.52 on Wednesday. The business has a 50-day simple moving average of $62.64 and a two-hundred day simple moving average of $54.01. The company has a market cap of $14.85 billion, a PE ratio of 5.72, a P/E/G ratio of 0.45 and a beta of 1.33. PulteGroup has a fifty-two week low of $35.03 and a fifty-two week high of $70.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.70 and a current ratio of 0.70.

PulteGroup (NYSE:PHM – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The construction company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.57. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.27 billion. PulteGroup had a net margin of 16.22% and a return on equity of 31.03%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $1.83 earnings per share. As a group, equities analysts expect that PulteGroup will post 9.05 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, EVP Todd N. Sheldon sold 15,998 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $53.83, for a total value of $861,172.34. Following the completion of the sale, the executive vice president now directly owns 82,339 shares in the company, valued at approximately $4,432,308.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other PulteGroup news, insider Ryan Marshall sold 98,000 shares of PulteGroup stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $65.27, for a total value of $6,396,460.00. Following the sale, the insider now owns 645,574 shares in the company, valued at $42,136,614.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,998 shares of PulteGroup stock in a transaction on 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 sale, the executive vice president now owns 82,339 shares in the company, valued at approximately $4,432,308.37. The disclosure for this sale can be found here. Insiders sold a total of 244,100 shares of company stock worth $15,962,206 in the last three months. 0.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently made changes to their positions in the stock. CWM LLC increased its position in shares of PulteGroup by 12.4% during the fourth quarter. CWM LLC now owns 2,433 shares of the construction company’s stock valued at $111,000 after acquiring an additional 268 shares during the last quarter. Royal Bank of Canada boosted its position in shares of PulteGroup by 24.4% during the third quarter. Royal Bank of Canada now owns 728,006 shares of the construction company’s stock worth $27,300,000 after buying an additional 142,668 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of PulteGroup by 24.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 174,838 shares of the construction company’s stock worth $6,556,000 after buying an additional 33,834 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PulteGroup by 11.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,076 shares of the construction company’s stock worth $6,560,000 after buying an additional 14,572 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of PulteGroup by 71.0% during the third quarter. Public Employees Retirement Association of Colorado now owns 41,567 shares of the construction company’s stock worth $1,559,000 after buying an additional 17,264 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

About PulteGroup

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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.