Wells Fargo & Company Has Lowered Expectations for PulteGroup (NYSE:PHM) Stock Price

PulteGroup (NYSE:PHM) had its price target dropped by investment analysts at Wells Fargo & Company from $165.00 to $140.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 19.85% from the stock’s current price.

Several other research analysts also recently issued reports on PHM. BTIG Research upped their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI dropped their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group raised their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

PulteGroup Stock Performance

PHM stock traded down $0.01 during trading on Tuesday, hitting $116.81. The company had a trading volume of 257,843 shares, compared to its average volume of 1,820,872. The firm has a market cap of $23.96 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62. The firm has a 50-day moving average price of $132.63 and a 200-day moving average price of $127.35. PulteGroup has a 1-year low of $99.03 and a 1-year high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the business earned $2.90 earnings per share. PulteGroup’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts expect that PulteGroup will post 12.94 earnings per share for the current year.

Institutional Trading of PulteGroup

Large investors have recently modified their holdings of the stock. Logan Capital Management Inc. grew its holdings in shares of PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after buying an additional 5,976 shares in the last quarter. Sanctuary Advisors LLC lifted its position in PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after purchasing an additional 33,472 shares during the period. Trustmark National Bank Trust Department grew its stake in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after purchasing an additional 11,269 shares during the last quarter. New Millennium Group LLC raised its position in PulteGroup by 10,625.8% in the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after buying an additional 9,457 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after acquiring an additional 4,840 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.