PulteGroup (NYSE:PHM) Stock Rating Upgraded by Zelman & Associates

PulteGroup (NYSE:PHM) was upgraded by investment analysts at Zelman & Associates from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Benzinga reports.

A number of other equities research analysts have also recently weighed in on PHM. UBS Group cut PulteGroup from a “buy” rating to a “neutral” rating and raised their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. The Goldman Sachs Group increased their price objective on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Raymond James boosted their target price on shares of PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Wedbush reissued a “neutral” rating and set a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, Oppenheimer raised their price target on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Stock Down 0.8 %

Shares of NYSE PHM opened at $111.36 on Wednesday. The business has a fifty day moving average of $111.04 and a two-hundred day moving average of $99.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. PulteGroup has a 52-week low of $64.41 and a 52-week high of $121.07. The stock has a market cap of $23.42 billion, a PE ratio of 8.92, a PEG ratio of 0.54 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings results 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 firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.63 earnings per share. As a group, equities research analysts expect that PulteGroup will post 11.96 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after purchasing an additional 28,833 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in PulteGroup by 24.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after acquiring an additional 5,257 shares during the period. American Century Companies Inc. increased its stake in shares of PulteGroup by 65.0% during the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock worth $16,660,000 after purchasing an additional 88,638 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of PulteGroup during the fourth quarter worth $6,111,000. Finally, Louisiana State Employees Retirement System acquired a new stake in PulteGroup in the 4th quarter worth about $1,342,000. 89.90% of the stock is owned by institutional investors.

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.