PulteGroup, Inc. (NYSE:PHM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PulteGroup, Inc. (NYSE:PHM) has been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $143.1429.

A number of research analysts recently commented on PHM shares. UBS Group restated a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a research report on Thursday, July 23rd. Truist Financial dropped their price objective on shares of PulteGroup from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Evercore reiterated an “outperform” rating and issued a $162.00 target price on shares of PulteGroup in a research report on Thursday, July 23rd. Wells Fargo & Company raised their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Barclays lifted their price target on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd.

PulteGroup Trading Down 1.8%

Shares of NYSE:PHM opened at $132.30 on Thursday. The company has a market capitalization of $24.80 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.67 and a beta of 1.18. PulteGroup has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50 day simple moving average is $125.29 and its 200 day simple moving average is $125.54.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.03 EPS. On average, research analysts anticipate that PulteGroup will post 10.08 EPS for the current fiscal year.

PulteGroup announced that its board has authorized a share repurchase plan on Thursday, April 23rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at PulteGroup

In other news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer directly owned 28,100 shares in the company, valued at approximately $3,372,000. This represents a 20.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

A number of institutional investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its position in shares of PulteGroup by 1,650.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. NFSG Corp acquired a new position in shares of PulteGroup in the 1st quarter valued at about $29,000. Rachor Investment Advisory Services LLC bought a new stake in shares of PulteGroup during the 4th quarter valued at about $31,000. HHM Wealth Advisors LLC grew its stake in PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Finally, DV Equities LLC acquired a new stake in PulteGroup during the fourth quarter worth approximately $32,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.