Jefferies Financial Group Raises PulteGroup (NYSE:PHM) Price Target to $131.00

PulteGroup (NYSE:PHM) had its price target increased by equities researchers at Jefferies Financial Group from $126.00 to $131.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 17.64% from the stock’s previous close.

A number of other research firms also recently weighed in on PHM. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Barclays lifted their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Wedbush reiterated a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research report on Wednesday, January 31st. Finally, Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Trading Down 0.8 %

Shares of PHM stock opened at $111.36 on Wednesday. The firm has a 50 day moving average price of $111.04 and a two-hundred day moving average price of $99.13. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $23.50 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. PulteGroup has a 12-month low of $64.41 and a 12-month high of $121.07.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period last year, the business posted $3.63 earnings per share. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, analysts predict that PulteGroup will post 11.79 earnings per share for the current year.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the business’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 sale, 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 SEC, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Institutional Trading of PulteGroup

Several institutional investors have recently modified their holdings of PHM. CWM LLC grew its stake in shares of PulteGroup by 33.3% in the third quarter. CWM LLC now owns 10,449 shares of the construction company’s stock worth $774,000 after purchasing an additional 2,609 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of PulteGroup by 25.6% in the third quarter. AE Wealth Management LLC now owns 25,237 shares of the construction company’s stock worth $1,869,000 after purchasing an additional 5,140 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of PulteGroup by 11.1% in the third quarter. Exchange Traded Concepts LLC now owns 27,619 shares of the construction company’s stock worth $2,045,000 after purchasing an additional 2,750 shares during the last quarter. Private Trust Co. NA grew its stake in shares of PulteGroup by 25.0% in the third quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock worth $64,000 after purchasing an additional 172 shares during the last quarter. Finally, Riverwater Partners LLC bought a new stake in shares of PulteGroup in the third quarter worth $232,000. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.