Wells Fargo & Company Cuts PulteGroup (NYSE:PHM) Price Target to $132.00

PulteGroup (NYSE:PHM) had its price objective lowered by Wells Fargo & Company from $150.00 to $132.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.21% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. The Goldman Sachs Group lifted their price target on PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. UBS Group reiterated a “buy” rating on shares of PulteGroup in a report on Thursday, March 12th. Citigroup lifted their price target on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Truist Financial started coverage on shares of PulteGroup in a research note on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.21.

PulteGroup Stock Up 4.1%

Shares of NYSE:PHM traded up $4.68 during trading on Wednesday, reaching $119.77. 1,157,699 shares of the company traded hands, compared to its average volume of 1,861,828. The firm has a fifty day simple moving average of $127.76 and a 200 day simple moving average of $125.33. The firm has a market cap of $22.95 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33. PulteGroup has a 1-year low of $88.07 and a 1-year high of $144.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

Insider Transactions at PulteGroup

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the completion of the transaction, the insider owned 659,392 shares of the company’s stock, valued at $88,266,213.12. The trade was a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at approximately $5,759,940.22. This represents a 26.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHM. Rachor Investment Advisory Services LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $31,000. DV Equities LLC acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $32,000. Lloyd Advisory Services LLC. acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $33,000. Rexford Capital Inc. acquired a new position in shares of PulteGroup during the second quarter valued at about $35,000. Finally, Private Wealth Management Group LLC raised its position in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Company Profile

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.