PulteGroup (NYSE:PHM) Stock Rating Lowered by Seaport Res Ptn

PulteGroup (NYSE:PHM) was downgraded by investment analysts at Seaport Res Ptn from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on PHM. Wedbush raised PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Friday, January 3rd. UBS Group raised shares of PulteGroup from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $154.00 to $148.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group cut their target price on PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Citigroup reduced their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

PulteGroup Stock Performance

PulteGroup stock opened at $115.05 on Monday. The firm has a market capitalization of $23.59 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.46 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a fifty day moving average price of $118.80 and a two-hundred day moving average price of $127.59. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47.

Institutional Investors Weigh In On PulteGroup

A number of large investors have recently added to or reduced their stakes in PHM. Logan Capital Management Inc. grew its stake in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after buying an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of PulteGroup by 38.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after buying an additional 33,472 shares in the last quarter. Trustmark National Bank Trust Department raised its position in 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 in the last quarter. Systematic Financial Management LP raised its holdings in shares of PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after buying an additional 4,840 shares in the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of PulteGroup by 10,625.8% in the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after acquiring an additional 9,457 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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.