JPMorgan Chase & Co. Issues Pessimistic Forecast for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $149.00 to $131.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.49% from the stock’s current price.

A number of other equities analysts have also commented on PHM. BTIG Research started coverage on shares of PulteGroup in a research report on Monday, December 1st. They issued a “neutral” rating on the stock. Citizens Jmp began coverage on PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 target price on the stock. UBS Group cut their price objective on shares of PulteGroup from $160.00 to $159.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $144.00 price target on shares of PulteGroup in a research note on Tuesday, January 13th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average price target of $139.77.

PulteGroup Stock Up 2.6%

Shares of PHM traded up $3.29 during mid-day trading on Tuesday, reaching $130.36. The company’s stock had a trading volume of 1,779,244 shares, compared to its average volume of 1,950,152. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. PulteGroup has a 1 year low of $88.07 and a 1 year high of $142.11. The business has a fifty day moving average of $124.83 and a 200 day moving average of $124.99. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33.

Institutional Trading of PulteGroup

Hedge funds have recently bought and sold shares of the business. Railway Pension Investments Ltd grew its holdings in shares of PulteGroup by 2.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock worth $14,526,000 after purchasing an additional 3,200 shares during the period. Nisa Investment Advisors LLC boosted its holdings in PulteGroup by 10.5% in the third quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after purchasing an additional 10,028 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of PulteGroup in the 2nd quarter valued at about $2,162,000. Osaic Holdings Inc. increased its holdings in shares of PulteGroup by 129.5% in the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after acquiring an additional 85,637 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new position in shares of PulteGroup in the 3rd quarter valued at approximately $2,280,000. 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.