PulteGroup (NYSE:PHM) Rating Lowered to “Strong Sell” at Seaport Res Ptn

PulteGroup (NYSE:PHM) was downgraded by analysts at Seaport Res Ptn from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. 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. Oppenheimer cut their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Wedbush raised PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

PulteGroup Trading Down 2.5 %

NYSE:PHM opened at $115.05 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $23.59 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.46 and a beta of 1.67. The firm’s fifty day moving average is $118.80 and its 200-day moving average is $127.59. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PHM. Thrivent Financial for Lutherans lifted its position in PulteGroup by 23.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,364 shares of the construction company’s stock worth $2,022,000 after buying an additional 3,446 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of PulteGroup by 61.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock worth $861,000 after buying an additional 2,970 shares during the last quarter. Ascent Group LLC boosted its holdings in PulteGroup by 34.2% in the second quarter. Ascent Group LLC now owns 4,188 shares of the construction company’s stock valued at $461,000 after acquiring an additional 1,068 shares in the last quarter. Algert Global LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $334,000. Finally, NewEdge Advisors LLC grew its holdings in shares of PulteGroup by 14.4% during the 2nd quarter. NewEdge Advisors LLC now owns 33,622 shares of the construction company’s stock worth $3,702,000 after acquiring an additional 4,229 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.