PulteGroup, Inc. (NYSE:PHM) reached a new 52-week high with a stock price of $111.02 [5df69155]. The company leads the Residential Construction industry with an overall score of 78, outperforming the industry average score of 57 [98c6e37d]. PHM has shown strong performance this year, with a 104.48% increase in stock price [98c6e37d]. Despite trading neutral recently, the stock is down -0.16% this week [98c6e37d]. Analysts have given PHM a Strong Buy rating, with an average price target of $116.117 [98c6e37d]. Barclays has also boosted their price target for PHM to $126.00 and given the stock an 'overweight' rating [5df69155].
PulteGroup reported better-than-expected earnings for the quarter, with an EPS of $3.28, beating the consensus estimate of $3.21 [5df69155]. The company also announced a quarterly dividend of $0.20 per share and initiated a stock buyback program of $1.50 billion [5df69155]. Insider Brien P. O'meara sold 2,000 shares of the company's stock [5df69155].
California State Teachers Retirement System reduced its stake in shares of PulteGroup by 5.3% in the 3rd quarter [5df69155]. The fund owned 347,398 shares of the construction company's stock after selling 19,259 shares during the quarter [5df69155].
Despite PulteGroup's strong performance, investors should carefully consider the stock's fundamentals and reassess their portfolio risk before making any investment decisions [1474debe].
Texas Permanent School Fund Corp trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,862 shares of the construction company’s stock after selling 669 shares during the quarter. Texas Permanent School Fund Corp’s holdings in PulteGroup were worth $5,291,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM [cef23e76].
A number of brokerages have issued reports on PHM. Barclays cut their price objective on shares of PulteGroup from $136.00 to $131.00 and set an “overweight” rating for the company in a report on Friday. Citigroup cut their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Oppenheimer increased their price objective on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.86 [cef23e76].