PulteGroup (NYSE:PHM) Stock Rating Upgraded by Seaport Res Ptn

PulteGroup (NYSE:PHM) was upgraded by Seaport Res Ptn from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on PHM. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Barclays decreased their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. UBS Group boosted their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Finally, The Goldman Sachs Group dropped their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Stock Down 0.2 %

PulteGroup stock opened at $108.06 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $21.88 billion, a PE ratio of 7.35, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The firm has a 50 day moving average price of $109.48 and a 200 day moving average price of $124.10. PulteGroup has a fifty-two week low of $100.54 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Research analysts expect that PulteGroup will post 12.32 earnings per share for the current year.

PulteGroup declared that its Board of Directors has approved a share repurchase plan on Thursday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Todd N. Sheldon sold 15,191 shares of PulteGroup stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian P. Anderson sold 2,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares in the company, valued at $6,026,879.65. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Institutional investors have recently modified their holdings of the company. Logan Capital Management Inc. raised its holdings in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after acquiring an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC increased its stake in PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department raised its holdings in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares during the period. Systematic Financial Management LP grew its stake in shares of PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after acquiring an additional 4,840 shares in the last quarter. Finally, Nilsine Partners LLC increased its position in shares of PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock worth $2,240,000 after purchasing an additional 18,575 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

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.