PulteGroup (NYSE:PHM) Upgraded to “Neutral” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of PulteGroup (NYSE:PHM) from an underweight rating to a neutral rating in a research report report published on Wednesday, April 10th, Benzinga reports. They currently have $25.50 price objective on the construction company’s stock, up from their previous price objective of $24.00.

Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group set a $31.00 price target on shares of PulteGroup and gave the stock a buy rating in a research note on Friday, February 15th. ValuEngine raised shares of PulteGroup from a sell rating to a hold rating in a research note on Tuesday, February 5th. Barclays set a $24.00 price target on shares of PulteGroup and gave the stock a hold rating in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of PulteGroup from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Finally, Raymond James downgraded shares of PulteGroup from an outperform rating to a market perform rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. PulteGroup presently has an average rating of Hold and a consensus target price of $28.53.

Shares of NYSE:PHM traded up $0.08 during midday trading on Wednesday, hitting $31.78. 2,803,300 shares of the company’s stock traded hands, compared to its average volume of 4,757,352. PulteGroup has a twelve month low of $20.64 and a twelve month high of $33.04. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.38 and a beta of 0.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.61.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.12. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts predict that PulteGroup will post 3.37 earnings per share for the current year.

In other news, CFO Robert Oshaughnessy sold 42,108 shares of PulteGroup stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.52, for a total value of $1,327,244.16. Following the completion of the transaction, the chief financial officer now directly owns 334,213 shares of the company’s stock, valued at approximately $10,534,393.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James L. Ossowski sold 10,000 shares of PulteGroup stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $31.19, for a total transaction of $311,900.00. Following the completion of the transaction, the senior vice president now directly owns 25,750 shares of the company’s stock, valued at $803,142.50. The disclosure for this sale can be found here. Insiders sold a total of 162,846 shares of company stock valued at $5,064,382 in the last three months. Insiders own 0.49% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PHM. Burt Wealth Advisors acquired a new position in PulteGroup during the 4th quarter valued at about $26,000. CSat Investment Advisory L.P. lifted its stake in shares of PulteGroup by 34.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock worth $38,000 after acquiring an additional 374 shares during the period. Kwmg LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $45,000. Private Capital Group LLC lifted its stake in shares of PulteGroup by 103.8% in the 1st quarter. Private Capital Group LLC now owns 1,620 shares of the construction company’s stock worth $45,000 after acquiring an additional 825 shares during the period. Finally, Valley National Advisers Inc. lifted its stake in shares of PulteGroup by 1,702.0% in the 1st quarter. Valley National Advisers Inc. now owns 1,838 shares of the construction company’s stock worth $51,000 after acquiring an additional 1,736 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Analyst Recommendations for PulteGroup (NYSE:PHM)

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