PulteGroup (NYSE:PHM) Rating Lowered to Strong Sell at Seaport Research Partners

Key Points

• Seaport Research Partners downgraded PulteGroup (NYSE:PHM) from a "strong-buy" to a "strong sell" in a report released Monday.
• Despite that downgrade, MarketBeat data shows a consensus rating of "Moderate Buy" with a consensus price target of $142.71 and several analysts recently raising their targets.
• Shares opened at $115.08 Monday (down about 4%), insiders have sold 149,952 shares worth roughly $20.16 million in the past 90 days, and institutions own about 89.9% of the stock.

PulteGroup (NYSE:PHM - Get Free Report) was downgraded by analysts at Seaport Research Partners from a "strong-buy" rating to a "strong sell" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Citizens Jmp initiated coverage on shares of PulteGroup in a report on Wednesday, January 7th. They set a "market outperform" rating and a $145.00 price objective on the stock. Evercore increased their price objective on shares of PulteGroup from $134.00 to $143.00 in a report on Friday, January 30th. Oppenheimer reissued an "outperform" rating and set a $149.00 price objective (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Zacks Research lowered shares of PulteGroup from a "hold" rating to a "strong sell" rating in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PulteGroup from $149.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.71.

PulteGroup Stock Down 4.0%

Shares of NYSE:PHM opened at $115.08 on Monday. PulteGroup has a 12 month low of $88.07 and a 12 month high of $144.49. The company's 50-day moving average price is $127.76 and its two-hundred day moving average price is $125.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $22.05 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.36 and a beta of 1.33.

Insider Buying and Selling

In other news, COO Matthew William Koart sold 15,309 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer owned 42,418 shares of the company's stock, valued at approximately $5,759,940.22. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the completion of the transaction, the executive vice president directly owned 14,673 shares in the company, valued at $2,069,333.19. This trade represents a 26.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in PulteGroup during the fourth quarter valued at approximately $525,000. MidFirst Bank acquired a new stake in PulteGroup in the fourth quarter worth $8,146,000. SG Trading Solutions LLC bought a new position in shares of PulteGroup during the fourth quarter worth $202,000. Pacer Advisors Inc. boosted its position in shares of PulteGroup by 8.1% during the fourth quarter. Pacer Advisors Inc. now owns 735,921 shares of the construction company's stock worth $86,294,000 after purchasing an additional 55,206 shares in the last quarter. Finally, Kera Capital Partners Inc. grew its holdings in shares of PulteGroup by 127.3% in the 4th quarter. Kera Capital Partners Inc. now owns 4,475 shares of the construction company's stock valued at $560,000 after buying an additional 2,506 shares during the period. Institutional investors own 89.90% of the company's stock.

PulteGroup Company Profile

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.

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