PulteGroup (NYSE:PHM) Stock Rating Lowered by Seaport Research Partners

PulteGroup (NYSE:PHM) was downgraded by research analysts at Seaport Research Partners from a “buy” rating to a “sell” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $100.00 price target on the construction company’s stock. Seaport Research Partners’ target price indicates a potential downside of 17.83% from the stock’s current price.

Several other brokerages also recently issued reports on PHM. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Truist Financial assumed coverage on PulteGroup in a report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price target on the stock. Evercore lifted their target price on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. JPMorgan Chase & Co. cut their target price on PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $142.71.

PulteGroup Stock Performance

Shares of NYSE PHM traded up $6.61 during mid-day trading on Monday, hitting $121.70. The company had a trading volume of 202,226 shares, compared to its average volume of 1,845,134. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.36 and a beta of 1.33. PulteGroup has a 12 month low of $88.07 and a 12 month high of $144.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $127.76 and its two-hundred day simple moving average is $125.33.

Insider Activity

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer owned 42,418 shares of the company’s stock, valued at $5,759,940.22. The trade was a 26.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the business’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 $9,417,352.53. This represents a 16.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 149,952 shares of company stock worth $20,162,165 over the last ninety days. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently modified their holdings of PHM. Nordea Investment Management AB grew its holdings in shares of PulteGroup by 2.4% in the 4th quarter. Nordea Investment Management AB now owns 573,065 shares of the construction company’s stock worth $67,387,000 after acquiring an additional 13,259 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of PulteGroup by 24.2% in the 3rd quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock worth $41,348,000 after acquiring an additional 61,009 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of PulteGroup by 10.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after acquiring an additional 10,028 shares during the last quarter. EFG Asset Management Americas Corp. grew its holdings in shares of PulteGroup by 351.9% in the 3rd quarter. EFG Asset Management Americas Corp. now owns 46,752 shares of the construction company’s stock worth $6,177,000 after acquiring an additional 36,407 shares during the last quarter. Finally, Dorato Capital Management acquired a new position in shares of PulteGroup in the 4th quarter worth $2,625,000. Institutional investors 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.