Citigroup Issues Positive Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price objective increased by stock analysts at Citigroup from $122.00 to $127.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup‘s price objective points to a potential upside of 4.77% from the company’s previous close.

PHM has been the topic of a number of other reports. The Goldman Sachs Group set a $138.00 price objective on shares of PulteGroup in a research note on Monday, October 12th. Evercore reaffirmed an “outperform” rating on shares of PulteGroup in a research report on Friday, September 25th. Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Melius Research began coverage on PulteGroup in a research note on Tuesday, October 6th. They set a “hold” rating and a $132.00 price target on the stock. Finally, Barclays cut their price target on PulteGroup from $110.00 to $109.00 and set an “equal weight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.24.

PulteGroup Price Performance

NYSE:PHM traded up $0.03 during trading hours on Monday, reaching $121.22. 1,146,680 shares of the company were exchanged, compared to its average volume of 1,816,159. The company has a market capitalization of $22.32 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day moving average of $119.81 and a 200 day moving average of $122.72. PulteGroup has a 1-year low of $107.15 and a 1-year high of $144.49.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, October 22nd. The construction company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company earned $2.96 earnings per share. PulteGroup’s quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts forecast that PulteGroup will post 9.98 EPS for the current year.

Institutional Trading of PulteGroup

Several institutional investors and hedge funds have recently bought and sold shares of PHM. QRG Capital Management Inc. raised its position in PulteGroup by 9.6% during the second quarter. QRG Capital Management Inc. now owns 151,274 shares of the construction company’s stock valued at $20,756,000 after purchasing an additional 13,312 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in PulteGroup in the second quarter valued at $1,423,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in PulteGroup in the second quarter worth $8,820,000. iA Global Asset Management Inc. purchased a new stake in shares of PulteGroup in the 2nd quarter worth approximately $38,937,000. Finally, State Street Corp boosted its stake in PulteGroup by 3.2% in the 2nd quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock worth $1,261,092,000 after purchasing an additional 288,054 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.