PulteGroup (NYSE:PHM) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also commented on the stock. JPMorgan Chase boosted their price objective on shares of PulteGroup from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 26th. Royal Bank of Canada set a $36.00 price objective on shares of PulteGroup and gave the stock a “buy” rating in a report on Wednesday, April 25th. Raymond James upgraded shares of PulteGroup from a “market perform” rating to an “outperform” rating in a report on Thursday, April 26th. Buckingham Research upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, April 25th. Finally, Credit Suisse Group set a $35.00 price objective on shares of PulteGroup and gave the stock a “buy” rating in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. PulteGroup presently has a consensus rating of “Buy” and an average target price of $35.21.

PulteGroup opened at $29.58 on Wednesday, Marketbeat Ratings reports. The firm has a market cap of $8.37 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.03. PulteGroup has a twelve month low of $28.67 and a twelve month high of $29.43.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 24th. The construction company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.15. PulteGroup had a net margin of 5.91% and a return on equity of 17.48%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. research analysts forecast that PulteGroup will post 3.31 earnings per share for the current fiscal year.

PulteGroup announced that its Board of Directors has initiated a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, COO Harmon D. Smith sold 1,045 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $31.32, for a total value of $32,729.40. Following the sale, the chief operating officer now owns 308,539 shares in the company, valued at approximately $9,663,441.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $30.03, for a total transaction of $260,570.31. Following the completion of the sale, the director now owns 90,687 shares in the company, valued at approximately $2,723,330.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,438 shares of company stock worth $2,347,542. Company insiders own 0.86% of the company’s stock.

Several institutional investors have recently modified their holdings of PHM. Signaturefd LLC acquired a new stake in shares of PulteGroup in the 1st quarter valued at about $106,000. Twin Tree Management LP acquired a new stake in shares of PulteGroup in the 1st quarter valued at about $107,000. Focused Wealth Management Inc acquired a new stake in shares of PulteGroup in the 4th quarter valued at about $113,000. SeaCrest Wealth Management LLC acquired a new stake in shares of PulteGroup in the 4th quarter valued at about $119,000. Finally, National Pension Service bought a new stake in shares of PulteGroup during the 4th quarter valued at about $138,000. Institutional investors and hedge funds own 87.50% of the company’s stock.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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