Barclays Cuts PulteGroup (NYSE:PHM) Price Target to $112.00

PulteGroup (NYSE:PHM) had its price target reduced by equities research analysts at Barclays from $115.00 to $112.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Barclays‘s target price would indicate a potential downside of 6.55% from the stock’s current price.

A number of other brokerages also recently weighed in on PHM. Seaport Research Partners reiterated a “sell” rating and issued a $100.00 price target (down from $155.00) on shares of PulteGroup in a research report on Tuesday. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Zacks Research downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. cut their price target on shares of PulteGroup from $149.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 3rd. Finally, The Goldman Sachs Group increased their price target on shares of PulteGroup from $144.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

PulteGroup Trading Up 4.1%

PulteGroup stock traded up $4.75 during trading hours on Wednesday, reaching $119.84. 795,710 shares of the company’s stock traded hands, compared to its average volume of 1,856,084. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.36 and a beta of 1.33. The firm’s 50 day moving average is $127.76 and its 200-day moving average is $125.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. PulteGroup has a fifty-two week low of $88.07 and a fifty-two week high of $144.49.

Insider Activity

In other PulteGroup news, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brien P. O’meara sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the sale, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This trade represents a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 149,952 shares of company stock worth $20,162,165. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in PHM. Rachor Investment Advisory Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $31,000. DV Equities LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $32,000. Lloyd Advisory Services LLC. acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $33,000. Rexford Capital Inc. acquired a new stake in shares of PulteGroup in the second quarter valued at approximately $35,000. Finally, Private Wealth Management Group LLC raised its holdings in shares of PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Company Profile

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.