PulteGroup (NYSE:PHM) Given New $113.00 Price Target at Royal Bank of Canada

PulteGroup (NYSE:PHM) had its price target increased by analysts at Royal Bank of Canada from $106.00 to $113.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 1.47% from the company’s current price.

PHM has been the subject of a number of other reports. Raymond James increased their price objective on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Wedbush reissued a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Citigroup increased their price objective on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Down 0.8 %

NYSE:PHM opened at $111.36 on Wednesday. The firm has a market capitalization of $23.42 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The stock has a 50 day moving average of $111.04 and a 200-day moving average of $99.13. PulteGroup has a 52 week low of $64.41 and a 52 week high of $121.07. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.63 earnings per share. Analysts predict that PulteGroup will post 11.96 EPS for the current year.

PulteGroup announced that its Board of Directors has approved a share repurchase plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of PulteGroup in the first quarter valued at $26,000. Arlington Trust Co LLC purchased a new stake in shares of PulteGroup in the third quarter valued at $33,000. Baystate Wealth Management LLC lifted its holdings in shares of PulteGroup by 186.5% in the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock valued at $36,000 after purchasing an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of PulteGroup in the third quarter valued at $36,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of PulteGroup in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Company Profile

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.