Melius Research Begins Coverage on PulteGroup (NYSE:PHM)

Equities research analysts at Melius Research initiated coverage on shares of PulteGroup (NYSE:PHM) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “hold” rating and a $132.00 price target on the construction company’s stock. Melius Research’s price target points to a potential upside of 17.54% from the company’s current price.

A number of other brokerages have also recently weighed in on PHM. Evercore reiterated an “outperform” rating on shares of PulteGroup in a research report on Friday, September 25th. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. UBS Group restated a “buy” rating and issued a $166.00 target price on shares of PulteGroup in a research note on Thursday, July 23rd. Morgan Stanley initiated coverage on PulteGroup in a report on Thursday, October 1st. They set an “equal weight” rating and a $128.00 price target for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.82.

PulteGroup Stock Down 3.3%

Shares of PHM opened at $112.30 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $123.84 and a two-hundred day moving average price of $123.01. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.44 and a beta of 1.16. PulteGroup has a 12 month low of $108.49 and a 12 month high of $144.49.

PulteGroup (NYSE:PHM) last released 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 company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The company’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.03 EPS. Equities analysts predict that PulteGroup will post 10.08 EPS for the current fiscal year.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its holdings in PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. NFSG Corp bought a new stake in PulteGroup during the 1st quarter worth about $29,000. HHM Wealth Advisors LLC lifted its position in PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Evelyn Partners Investment Management Services Ltd bought a new position in shares of PulteGroup in the 1st quarter valued at about $37,000. Finally, Mcdonald Partners LLC bought a new position in shares of PulteGroup in the 2nd quarter valued at about $43,000. 89.90% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc is a homebuilding company headquartered in Atlanta, Georgia. Founded in 1950 by William J. Pulte, the company develops, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers.

The company operates through several well-known brands, including Pulte Homes, Centex, Del Webb and DiVosta. Its offerings include single-family homes and related residential developments, with designs and communities tailored to different lifestyles, price points and stages of homeownership.

PulteGroup serves homebuyers across numerous markets in the United States.