PulteGroup (NYSE:PHM) Given New $131.00 Price Target at Jefferies Financial Group

PulteGroup (NYSE:PHM - Get Free Report) had its target price boosted by investment analysts at Jefferies Financial Group from $126.00 to $131.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Jefferies Financial Group's target price would suggest a potential upside of 16.69% from the stock's previous close.

A number of other brokerages have also weighed in on PHM. StockNews.com lowered PulteGroup from a "buy" rating to a "hold" rating in a report on Saturday, March 2nd. UBS Group lowered PulteGroup from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Barclays upped their price objective on PulteGroup from $126.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Citigroup upped 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, Royal Bank of Canada upped their price objective on PulteGroup from $106.00 to $113.00 and gave the stock a "sector perform" rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.73.

PulteGroup Stock Down 0.4 %

Shares of NYSE PHM traded down $0.50 during midday trading on Wednesday, hitting $112.26. 2,044,803 shares of the company's stock were exchanged, compared to its average volume of 1,827,992. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup has a twelve month low of $64.41 and a twelve month high of $121.07. The company has a market cap of $23.69 billion, a PE ratio of 9.56, a P/E/G ratio of 0.52 and a beta of 1.56. The firm's fifty day simple moving average is $110.90 and its 200-day simple moving average is $99.05.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The firm's revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.63 earnings per share. Research analysts predict that PulteGroup will post 11.79 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has approved a stock buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O'meara sold 2,000 shares of the company's stock in a transaction dated 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 directly owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHM. CWM LLC grew its stake in shares of PulteGroup by 33.3% in the third quarter. CWM LLC now owns 10,449 shares of the construction company's stock valued at $774,000 after buying an additional 2,609 shares in the last quarter. AE Wealth Management LLC boosted its holdings in PulteGroup by 25.6% in the third quarter. AE Wealth Management LLC now owns 25,237 shares of the construction company's stock valued at $1,869,000 after purchasing an additional 5,140 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in PulteGroup by 11.1% in the third quarter. Exchange Traded Concepts LLC now owns 27,619 shares of the construction company's stock valued at $2,045,000 after purchasing an additional 2,750 shares during the last quarter. Private Trust Co. NA boosted its holdings in PulteGroup by 25.0% in the third quarter. Private Trust Co. NA now owns 859 shares of the construction company's stock valued at $64,000 after purchasing an additional 172 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new position in PulteGroup in the third quarter valued at about $232,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

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.