PulteGroup (PHM) Rating Increased to Buy at Mizuho

PulteGroup (NYSE:PHM) was upgraded by stock analysts at Mizuho from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports.

PHM has been the subject of several other research reports. UBS Group initiated coverage on shares of PulteGroup in a report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Citigroup downgraded shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 target price for the company. in a report on Friday, October 20th. Credit Suisse Group set a $35.00 target price on shares of PulteGroup and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Wedbush reiterated a “neutral” rating and issued a $22.00 target price (down previously from $27.00) on shares of PulteGroup in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.15.

Shares of PulteGroup (NYSE PHM) traded up $0.45 during mid-day trading on Thursday, hitting $34.60. 3,242,940 shares of the stock traded hands, compared to its average volume of 4,020,000. The stock has a market capitalization of $10,170.00, a P/E ratio of 16.96, a P/E/G ratio of 0.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.25 and a current ratio of 0.25. PulteGroup has a 52 week low of $18.88 and a 52 week high of $35.01.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. equities research analysts predict that PulteGroup will post 2.2 earnings per share for the current year.

In related news, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.35, for a total transaction of $2,183,301.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the transaction, the chief financial officer now owns 363,722 shares of the company’s stock, valued at approximately $12,326,538.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,202 shares of company stock valued at $9,394,580. 0.71% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Achmea Investment Management B.V. bought a new position in PulteGroup during the second quarter valued at about $253,000. Capital Bank & Trust Co grew its position in PulteGroup by 424.5% during the third quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock valued at $3,303,000 after buying an additional 97,818 shares during the period. Andra AP fonden grew its position in PulteGroup by 11.5% during the third quarter. Andra AP fonden now owns 126,600 shares of the construction company’s stock valued at $3,460,000 after buying an additional 13,100 shares during the period. AHL Partners LLP bought a new position in PulteGroup during the second quarter worth about $2,556,000. Finally, Dupont Capital Management Corp boosted its position in PulteGroup by 48.2% during the third quarter. Dupont Capital Management Corp now owns 191,275 shares of the construction company’s stock worth $5,228,000 after purchasing an additional 62,178 shares during the period. Institutional investors own 84.53% of the company’s stock.

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About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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