PulteGroup (PHM) was Upgraded by FBR & Co. to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $23 . Earlier the firm had a rating of “Mkt Perform ” on the company shares. FBR & Co. advised their Clients and Investors in a research report released on Feb 14, 2017.
On the company’s financial health, PulteGroup reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jan 26, 2017. Analyst had a consensus of $0.59. The company had revenue of $2493.08 million for the quarter, compared to analysts expectations of $2329.82 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.
Several company insiders have filed Insider transactions , on Feb 13, 2017, James R Ellinghausen (Exec. Vice President-HR) sold 26,186 shares at $21.42 per share price. According to the SEC, on Feb 7, 2017, Steven M Cook (EVP, Ch. Legal Ofcr, Corp Secy) sold 20,000 shares at $21.33 per share price. On Feb 1, 2017, Harmon D Smith (EVP & Chief Operating Officer) sold 48,010 shares at $21.40 per share price, according to the Form-4 filing with the securities and exchange commission.
PulteGroup opened for trading at $21.46 and hit $21.69 on the upside on Friday, eventually ending the session at $21.62, with a gain of 1.03% or 0.22 points. The heightened volatility saw the trading volume jump to 35,32,424 shares. Company has a market cap of $6,872 M.
PulteGroup Inc. (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs including single-family detached townhouses condominiums and duplexes. It has delivered approximately 640000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.