PulteGroup’s (PHM) Outperform Rating Reiterated at Wedbush

PulteGroup (NYSE:PHM)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $135.00 target price on the construction company’s stock. Wedbush’s price target indicates a potential upside of 34.08% from the stock’s previous close.

A number of other research firms have also commented on PHM. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Barclays lowered their price target on PulteGroup from $117.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup dropped their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $138.21.

PulteGroup Stock Performance

Shares of PHM stock traded up $7.58 during trading on Tuesday, reaching $100.69. The company had a trading volume of 979,315 shares, compared to its average volume of 1,994,227. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $20.38 billion, a PE ratio of 6.86, a PEG ratio of 0.29 and a beta of 1.44. PulteGroup has a one year low of $88.07 and a one year high of $149.47. The firm’s 50 day simple moving average is $101.78 and its two-hundred day simple moving average is $115.70.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. Sell-side analysts forecast that PulteGroup will post 12.32 earnings per share for the current year.

PulteGroup declared that its board has approved a share buyback program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the transaction, the director now directly owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. The trade was a 16.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,191 shares of company stock valued at $2,256,367. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently modified their holdings of the stock. Hager Investment Management Services LLC bought a new stake in PulteGroup during the fourth quarter valued at about $29,000. Fortitude Family Office LLC raised its position in shares of PulteGroup by 74.1% in the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after purchasing an additional 137 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of PulteGroup during the fourth quarter valued at $37,000. TD Waterhouse Canada Inc. raised its stake in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after acquiring an additional 105 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in PulteGroup during the 4th quarter valued at about $39,000. 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.