BTIG Research Decides to Downgrade PulteGroup (NYSE:PHM) Stock

July 27, 2018 - By Mark Babin

PulteGroup, Inc. (NYSE:PHM) Logo

Investors sentiment decreased to 0.73 in 2018 Q1. Its down 0.28, from 1.01 in 2017Q4. It turned negative, as 48 investors sold PulteGroup, Inc. shares while 193 reduced holdings. 48 funds opened positions while 127 raised stakes. 234.12 million shares or 1.16% less from 236.87 million shares in 2017Q4 were reported.

Putnam Invs Ltd Liability Com invested 0.22% of its portfolio in PulteGroup, Inc. (NYSE:PHM). Dekabank Deutsche Girozentrale accumulated 0.01% or 40,451 shares. Victory Cap Mgmt has 107,179 shares for 0.01% of their portfolio. Wafra Investment Advisory Grp Incorporated New York reported 0.52% of its portfolio in PulteGroup, Inc. (NYSE:PHM). Gulf Intl State Bank (Uk) has 0.04% invested in PulteGroup, Inc. (NYSE:PHM) for 95,939 shares. The Massachusetts-based Contravisory Invest Mgmt has invested 0.11% in PulteGroup, Inc. (NYSE:PHM). Daiwa Secs Gp Incorporated holds 24,141 shares. Pnc Fincl Group invested 0% of its portfolio in PulteGroup, Inc. (NYSE:PHM). Baystate Wealth Mngmt Limited Liability Co stated it has 0% of its portfolio in PulteGroup, Inc. (NYSE:PHM). Twin Tree Mgmt L P owns 3,624 shares for 0% of their portfolio. Denver Inv Advsrs reported 108,305 shares. Voloridge Investment Limited Co holds 202,119 shares or 0.14% of its portfolio. Hennessy Advsr invested 1.01% in PulteGroup, Inc. (NYSE:PHM). Asset One Limited reported 413,384 shares stake. Salem Counselors holds 700 shares.

Since February 21, 2018, it had 1 buying transaction, and 4 insider sales for $2.25 million activity. On Wednesday, May 2 GRISE CHERYL W sold $430,384 worth of PulteGroup, Inc. (NYSE:PHM) or 14,000 shares. Another trade for 1,045 shares valued at $32,732 was made by SMITH HARMON D on Tuesday, May 8. Hawaux Andre J had bought 3,100 shares worth $97,061 on Thursday, May 10.

PulteGroup (NYSE:PHM) Receives a Downgrade

In an analyst report revealed to clients on Friday, 27 July, BTIG Research cut shares of PulteGroup (NYSE:PHM) to a lower Sell rating from the previous Neutral rating.

PulteGroup, Inc. (NYSE:PHM) Ratings Coverage

Among 10 analysts covering PulteGroup (NYSE:PHM), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. PulteGroup has $4000 highest and $32 lowest target. $36.13’s average target is 24.67% above currents $28.98 stock price. PulteGroup had 14 analyst reports since January 30, 2018 according to SRatingsIntel. The stock of PulteGroup, Inc. (NYSE:PHM) has “Buy” rating given on Tuesday, April 24 by FBR Capital. As per Thursday, April 26, the company rating was maintained by JP Morgan. RBC Capital Markets maintained PulteGroup, Inc. (NYSE:PHM) on Wednesday, April 25 with “Buy” rating. The rating was maintained by Susquehanna with “Hold” on Tuesday, April 24. Barclays Capital maintained the shares of PHM in report on Monday, March 26 with “Equal-Weight” rating. The stock of PulteGroup, Inc. (NYSE:PHM) earned “Buy” rating by Raymond James on Thursday, April 26. Buckingham Research upgraded the shares of PHM in report on Wednesday, April 25 to “Buy” rating. The firm earned “Buy” rating on Monday, March 26 by RBC Capital Markets. The firm has “Buy” rating given on Wednesday, April 25 by B. Riley & Co. The company was upgraded on Tuesday, January 30 by Credit Suisse.

It closed at $28.98 lastly. It is up 33.11% since July 27, 2017 and is uptrending. It has outperformed by 20.54% the S&P500.

PulteGroup, Inc., through its subsidiaries, engages primarily in the homebuilding business in the United States. The company has market cap of $8.28 billion. The firm is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It has a 16.63 P/E ratio. 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 names.

More news for PulteGroup, Inc. (NYSE:PHM) were recently published by: Seekingalpha.com, which released: “PulteGroup, Inc. 2018 Q2 – Results – Earnings Call Slides” on July 26, 2018. Seekingalpha.com‘s article titled: “PulteGroup (PHM) Q2 2018 Results – Earnings Call Transcript” and published on July 26, 2018 is yet another important article.

PulteGroup, Inc. (NYSE:PHM) Institutional Positions Chart

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