PulteGroup (NYSE:PHM) Upgraded at Evercore

Key Points

• Evercore upgraded PulteGroup from "in-line" to "outperform" and set a $146 price target, implying roughly a 21% upside from the stock's current level.
• Analyst consensus is a "Moderate Buy" with an average target of $140.21 versus the stock trading around $120.37; the company has a $23.06 billion market cap and a P/E of 10.82.
• Insider selling was notable last quarter—executives sold about 149,952 shares valued at $20.16 million—and insiders now own just 0.75% of the stock.

PulteGroup (NYSE:PHM - Get Free Report) was upgraded by equities research analysts at Evercore from an "in-line" rating to an "outperform" rating in a research note issued to investors on Monday,Finviz reports. The brokerage currently has a $146.00 price target on the construction company's stock. Evercore's price objective would suggest a potential upside of 21.29% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. Citigroup boosted their target price on PulteGroup from $128.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 3rd. Weiss Ratings upgraded PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. UBS Group restated a "buy" rating on shares of PulteGroup in a research report on Thursday, March 12th. Seaport Research Partners restated a "sell" rating and set a $100.00 target price (down from $155.00) on shares of PulteGroup in a research report on Tuesday, April 7th. Finally, Barclays dropped their target price on PulteGroup from $115.00 to $112.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.21.

PulteGroup Trading Up 0.0%

PHM stock opened at $120.37 on Monday. The company has a market cap of $23.06 billion, a P/E ratio of 10.82, a PEG ratio of 1.40 and a beta of 1.33. PulteGroup has a twelve month low of $89.81 and a twelve month high of $144.49. 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 business has a fifty day moving average of $127.51 and a 200-day moving average of $125.14.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O'meara sold 4,000 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president directly owned 8,601 shares of the company's stock, valued at $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Todd N. Sheldon sold 14,220 shares of PulteGroup stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total value of $1,919,842.20. Following the sale, the executive vice president directly owned 69,753 shares of the company's stock, valued at approximately $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 149,952 shares of company stock valued at $20,162,165 over the last quarter. 0.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup in the fourth quarter valued at about $31,000. DV Equities LLC acquired a new position in PulteGroup in the fourth quarter valued at about $32,000. Lloyd Advisory Services LLC. acquired a new position in PulteGroup in the fourth quarter valued at about $33,000. Rexford Capital Inc. acquired a new position in PulteGroup in the second quarter valued at about $35,000. Finally, Private Wealth Management Group LLC grew its stake in PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company's stock valued at $36,000 after acquiring an additional 200 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

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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