Berkshire Asset Management LLC PA Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Berkshire Asset Management LLC PA lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,529 shares of the construction company's stock after selling 5,646 shares during the period. Berkshire Asset Management LLC PA owned approximately 0.07% of PulteGroup worth $16,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Andra AP fonden boosted its position in PulteGroup by 15.2% in the fourth quarter. Andra AP fonden now owns 250,000 shares of the construction company's stock valued at $27,225,000 after buying an additional 32,900 shares during the last quarter. Callan Family Office LLC purchased a new stake in PulteGroup in the 4th quarter worth approximately $263,000. Candriam S.C.A. boosted its position in PulteGroup by 20.3% in the 4th quarter. Candriam S.C.A. now owns 2,555 shares of the construction company's stock worth $278,000 after purchasing an additional 431 shares in the last quarter. Inceptionr LLC purchased a new stake in PulteGroup in the 4th quarter worth approximately $595,000. Finally, Dana Investment Advisors Inc. boosted its position in PulteGroup by 1.7% in the 4th quarter. Dana Investment Advisors Inc. now owns 189,312 shares of the construction company's stock worth $20,616,000 after purchasing an additional 3,201 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Bank of America lowered their price objective on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Oppenheimer lowered their price objective on PulteGroup from $165.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. UBS Group upped their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $140.86.

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PulteGroup Price Performance

NYSE PHM traded down $0.21 during mid-day trading on Friday, hitting $108.06. The stock had a trading volume of 2,461,674 shares, compared to its average volume of 2,295,283. The firm's 50 day moving average is $109.48 and its 200 day moving average is $124.09. PulteGroup, Inc. has a twelve month low of $100.54 and a twelve month high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, March 18th. PulteGroup's dividend payout ratio (DPR) is presently 5.98%.

PulteGroup declared that its board has authorized a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $106.45, for a total value of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares of the company's stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the sale, the executive vice president now directly owns 74,758 shares of the company's stock, valued at $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last three months. 0.75% of the stock is currently owned by insiders.

About PulteGroup

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.