PulteGroup (NYSE:PHM) Raised to Strong-Buy at Truist Financial

PulteGroup (NYSE:PHM) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently issued reports on PHM. Citigroup boosted their price objective on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, February 3rd. Evercore boosted their price objective on PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Zacks Research cut PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, The Goldman Sachs Group raised their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Stock Performance

PHM opened at $132.33 on Tuesday. PulteGroup has a 12-month low of $88.07 and a 12-month high of $144.49. The firm has a market capitalization of $25.45 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32. The stock’s 50 day moving average price is $130.22 and its two-hundred day moving average price is $127.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the completion of the sale, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 149,952 shares of company stock worth $20,162,165 over the last 90 days. Company insiders own 0.76% of the company’s stock.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rachor Investment Advisory Services LLC bought a new stake in shares of PulteGroup in the 4th quarter valued at about $31,000. Private Wealth Management Group LLC lifted its holdings in PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. DV Equities LLC bought a new stake in PulteGroup during the 4th quarter worth approximately $32,000. Lloyd Advisory Services LLC. acquired a new stake in shares of PulteGroup during the fourth quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of PulteGroup during the second quarter worth about $32,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.