BlackRock Fund Advisors has recently announced that it has increased stake in PulteGroup Inc. (NYSE:PHM) by 7.06%. After grabbing 15.48 million shares, the institutional investor is now in possession of 1.02 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 7.05% having worth around $1.31 billion. Moreover, Putnam Investment Management LLC increased its share by 0.21 million to have a control over 11.22 million shares. And Greenhaven Associates, Inc. raised its holdings to 0.14 million shares by acquiring 5.78 million shares or 2.64% of the stake.
PulteGroup Inc. (PHM) concluded trading on 09/13/23 at a closing price of $76.96, with 2.94 million shares of worth about $226.4 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 39.88% during that period and on Wednesday the price saw a loss of about -1.80%. Currently the company’s common shares owned by public are about 222.16M shares, out of which, 217.86M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the PHM stock and their offered price forecasts bring an average price target of $98.38. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $115.00 and could fall to a lowest price of $85.00. The stock’s current price level is 20.88% above of average price target set by the analysts, while a rise to estimated low would result in gain of 9.46% for the stock. However, touching the estimated high of $115.00 would mean a gain of 33.08% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 42 times over the past 12 months. They bought 416,036 shares in 22 of the transactions. In 20 selling transactions, insiders dumped 414,069 shares.
Vanguard Total Stock Market ETF, Putnam Large Cap Value Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in PulteGroup Inc. Vanguard Total Stock Market ETF is currently holding 6.98 million shares of worth totaling $589.2 million. The company recently came selling 6667.0 shares which brought its stake up to 3.18% of the company’s outstanding shares. Vanguard 500 Index Fund, after buying 5.35 million shares, have now control over 2.44% of the stake in the company. It holds 35839.0 shares of worth $451.32 million.
PulteGroup Inc. (NYSE: PHM) started trading at $78.41, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 79.21, or with a loss of -1.80%. Stock saw a price change of -2.84% in past 5 days and over the past one month there was a price change of -8.42%. Year-to-date (YTD), PHM shares are showing a performance of 69.03% which increased to 82.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $35.99 but also hit the highest price of $86.15 during that period. The average intraday trading volume for PulteGroup Inc. shares is 2.55 million. The stock is currently trading -3.75% below its 20-day simple moving average (SMA20), while that difference is down -4.82% for SMA50 and it goes to 20.58% higher than SMA200.
BlackRock Fund Advisors acquired 15.48 million shares of PulteGroup Inc. having value of about $1.31 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.02 million shares in the company valued at close to $78536756.48, or have control over 7.06% stake in the company. PulteGroup Inc. (NYSE: PHM) currently have 222.16M outstanding shares and institutions hold larger chunk of about 94.30% of that. Holding of mutual funds in the company is about 41.80% while other institutional holders and individual stake holders have control over 52.75% and 22.38% of the stake respectively.
The stock has a current market capitalization of $16.94B and its 3Y-monthly beta is at 1.40. PE ratio of stock for trailing 12 months is 6.35, while it has posted earnings per share of $12.11 in the same period. Its PEG reads 1.20 while making debt-to-equity ratio of 0.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PHM, volatility over the week remained 3.38% while standing at 3.29% over the month.
Analysts are in expectations that PulteGroup Inc. (PHM) stock would likely to be making an EPS of $2.84 in the current quarter, while forecast for next quarter EPS is $3.39 and it is $11.9 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.66 which is $2.98 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.69 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 48.30% while it is estimated to increase by 1.70% in next year. EPS is likely to shrink at an annualized rate of 5.30% for next 5-years, compared to annual growth of 40.60% made by the stock over the past 5-years.
Analysts at 17 brokerage firms have issued recommendations for the PulteGroup Inc. (PHM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 17 Wall Street analysts, 11 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on July 14, 2023 offering an Outperform rating for the stock and assigned a target price of $93 to it.