PulteGroup (NYSE:PHM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PulteGroup (NYSE:PHM) had its price objective upped by analysts at Wells Fargo & Company from $140.00 to $150.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.11% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Seaport Research Partners reissued a “sell” rating and issued a $100.00 price objective (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a report on Tuesday, May 26th. UBS Group upped their price objective on PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group boosted their target price on PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.43.

PulteGroup Price Performance

Shares of NYSE PHM opened at $133.79 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $25.49 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18. The stock’s 50-day moving average is $122.23 and its two-hundred day moving average is $124.61. PulteGroup has a 1-year low of $107.07 and a 1-year high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.40 billion. PulteGroup had a return on equity of 16.41% and a net margin of 12.14%.The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 earnings per share. Analysts forecast that PulteGroup will post 9.95 EPS for the current fiscal year.

PulteGroup announced that its board has approved a share buyback program on Thursday, April 23rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at PulteGroup

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC raised its holdings in shares of PulteGroup by 18.3% in the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after buying an additional 75 shares during the last quarter. Evergreen Capital Management LLC increased its position in PulteGroup by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR increased its position in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after acquiring an additional 80 shares during the period. Perigon Wealth Management LLC raised its stake in PulteGroup by 3.6% during the 4th quarter. Perigon Wealth Management LLC now owns 2,672 shares of the construction company’s stock valued at $313,000 after acquiring an additional 92 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in PulteGroup by 4.8% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,169 shares of the construction company’s stock valued at $254,000 after acquiring an additional 99 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.