Royal Bank of Canada Increases PulteGroup (NYSE:PHM) Price Target to $113.00

PulteGroup (NYSE:PHM) had its target price upped by equities researchers at Royal Bank of Canada from $106.00 to $113.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 1.54% from the company’s current price.

Other equities analysts have also issued reports about the stock. Wedbush reiterated a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a research report on Wednesday, January 31st. StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Barclays lifted their price target on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.13.

PulteGroup Stock Down 1.3 %

Shares of PulteGroup stock traded down $1.47 during trading hours on Wednesday, hitting $111.29. 790,903 shares of the company’s stock traded hands, compared to its average volume of 1,810,976. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $110.73 and a 200-day simple moving average of $98.96. PulteGroup has a twelve month low of $64.41 and a twelve month high of $121.07. The company has a market cap of $23.48 billion, a PE ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.56.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter last year, the business earned $3.63 earnings per share. Equities research analysts anticipate that PulteGroup will post 11.79 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a share buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors have recently made changes to their positions in PHM. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of PulteGroup during the first quarter valued at approximately $26,000. Arlington Trust Co LLC acquired a new position in shares of PulteGroup during the third quarter valued at about $33,000. Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in PulteGroup in the 3rd quarter worth approximately $36,000. Finally, Rakuten Securities Inc. purchased a new stake in PulteGroup during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.