PulteGroup, Inc. (PHM) Coverage Initiated at UBS AG

UBS AG initiated coverage on shares of PulteGroup, Inc. (NYSE:PHM) in a report published on Wednesday, October 25th, 99wallstreet.com reports. The firm issued a buy rating and a $38.00 price target on the construction company’s stock.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of PulteGroup from a strong-buy rating to a buy rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of PulteGroup from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, July 4th. Bank of America Corporation restated a buy rating and set a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. Royal Bank Of Canada reiterated a buy rating and issued a $28.00 price target on shares of PulteGroup in a research report on Monday, September 25th. Finally, Credit Suisse Group set a $35.00 price target on shares of PulteGroup and gave the company a buy rating in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $28.67.

PulteGroup (NYSE:PHM) opened at $31.15 on Wednesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.72. PulteGroup has a twelve month low of $18.18 and a twelve month high of $31.36. The company has a market cap of $9,157.10, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. equities analysts forecast that PulteGroup will post 2.18 earnings per share for the current fiscal year.

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In other news, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the transaction, the insider now directly owns 294,369 shares of the company’s stock, valued at approximately $8,742,759.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PHM. Principal Financial Group Inc. lifted its holdings in PulteGroup by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 467,882 shares of the construction company’s stock valued at $11,018,000 after purchasing an additional 12,321 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in PulteGroup by 7.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,025 shares of the construction company’s stock valued at $377,000 after purchasing an additional 1,118 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in PulteGroup by 3.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,492 shares of the construction company’s stock valued at $247,000 after purchasing an additional 330 shares in the last quarter. AQR Capital Management LLC lifted its holdings in PulteGroup by 155.2% in the 1st quarter. AQR Capital Management LLC now owns 1,029,478 shares of the construction company’s stock valued at $24,244,000 after purchasing an additional 626,019 shares in the last quarter. Finally, Paloma Partners Management Co lifted its holdings in PulteGroup by 212.0% in the 1st quarter. Paloma Partners Management Co now owns 57,373 shares of the construction company’s stock valued at $1,351,000 after purchasing an additional 38,983 shares in the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Analyst Recommendations for PulteGroup (NYSE:PHM)

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