PulteGroup (NYSE:PHM) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• PulteGroup's stock has received a "hold (C+)" rating from Weiss Ratings, while other firms like Oppenheimer and Citigroup have upgraded their price targets, with Citigroup setting it at $143.00.
• The company's recent earnings report showed $3.03 earnings per share, exceeding expectations, although revenue was down 4.3% year-over-year.
• Institutional investors own 89.90% of PulteGroup's stock, with several funds increasing their stakes significantly in recent quarters.

PulteGroup (NYSE:PHM - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently issued reports on PHM. Oppenheimer upped their price target on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Citigroup lifted their price target on PulteGroup from $132.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 1st. Wedbush reaffirmed an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.46.

PulteGroup Stock Down 1.6%

PulteGroup stock opened at $127.51 on Wednesday. The company has a market capitalization of $25.16 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.38 and a beta of 1.29. The firm's fifty day simple moving average is $130.29 and its 200-day simple moving average is $112.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.83 EPS. Sell-side analysts forecast that PulteGroup will post 12.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PulteGroup

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHM. GAMMA Investing LLC boosted its position in PulteGroup by 38.9% in the first quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company's stock valued at $313,000 after buying an additional 853 shares in the last quarter. Accurate Wealth Management LLC boosted its position in PulteGroup by 24.8% in the first quarter. Accurate Wealth Management LLC now owns 3,285 shares of the construction company's stock valued at $310,000 after buying an additional 653 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in PulteGroup in the first quarter valued at about $408,000. NorthCrest Asset Manangement LLC boosted its position in PulteGroup by 3.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 128,929 shares of the construction company's stock valued at $13,254,000 after buying an additional 3,755 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in PulteGroup in the first quarter valued at about $222,000. 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.

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