Shares of PulteGroup, Inc. (NYSE:PHM) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $34.79.
A number of research firms recently issued reports on PHM. Royal Bank of Canada set a $33.00 price objective on shares of PulteGroup and gave the stock a “hold” rating in a research report on Monday, August 26th. SunTrust Banks began coverage on shares of PulteGroup in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Wednesday, October 23rd. Wells Fargo & Co upped their price objective on shares of PulteGroup from $34.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upgraded shares of PulteGroup from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $37.50 in a research report on Wednesday, September 11th.
Shares of NYSE:PHM traded down $0.45 during midday trading on Monday, hitting $39.20. The stock had a trading volume of 1,598,002 shares, compared to its average volume of 2,992,106. The company’s 50-day moving average price is $38.89 and its 200-day moving average price is $34.53. The company has a market capitalization of $10.75 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.39 and a beta of 0.61. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.53. PulteGroup has a fifty-two week low of $24.45 and a fifty-two week high of $41.22.
In related news, SVP James L. Ossowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $39.95, for a total transaction of $399,500.00. Following the completion of the transaction, the senior vice president now directly owns 25,750 shares in the company, valued at approximately $1,028,712.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ibex Wealth Advisors bought a new position in PulteGroup during the second quarter worth $37,000. Pearl River Capital LLC purchased a new stake in shares of PulteGroup in the second quarter valued at about $38,000. Neo Ivy Capital Management purchased a new stake in shares of PulteGroup in the second quarter valued at about $39,000. Point72 Asset Management L.P. purchased a new stake in shares of PulteGroup in the second quarter valued at about $47,000. Finally, Executive Wealth Management LLC raised its holdings in shares of PulteGroup by 30.2% in the third quarter. Executive Wealth Management LLC now owns 1,302 shares of the construction company’s stock valued at $47,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 86.08% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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