Bessemer Group Inc. Has $2 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Bessemer Group Inc. lowered its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 68.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,359 shares of the construction company's stock after selling 39,558 shares during the period. Bessemer Group Inc.'s holdings in PulteGroup were worth $1,999,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Morse Asset Management Inc lifted its stake in shares of PulteGroup by 26.2% during the third quarter. Morse Asset Management Inc now owns 9,735 shares of the construction company's stock valued at $1,397,000 after acquiring an additional 2,020 shares during the period. Wellington Management Group LLP grew its position in shares of PulteGroup by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company's stock worth $5,051,000 after buying an additional 258 shares during the period. Aldebaran Financial Inc. raised its stake in shares of PulteGroup by 99.1% during the third quarter. Aldebaran Financial Inc. now owns 5,365 shares of the construction company's stock worth $770,000 after buying an additional 2,670 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in PulteGroup in the third quarter valued at approximately $234,000. Finally, World Investment Advisors LLC grew its holdings in PulteGroup by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 9,515 shares of the construction company's stock worth $1,366,000 after acquiring an additional 1,706 shares during the period. Institutional investors own 89.90% of the company's stock.

Insider Buying and Selling at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. The trade was a 16.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the director now owns 56,617 shares in the company, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. 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 quarter. 0.76% of the stock is currently owned by insiders.

PulteGroup Stock Performance

NYSE PHM traded up $2.01 on Friday, hitting $94.87. 2,870,580 shares of the stock were exchanged, compared to its average volume of 1,996,144. The company has a market capitalization of $19.21 billion, a PE ratio of 6.45, a P/E/G ratio of 0.29 and a beta of 1.44. 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 business's fifty day moving average is $102.28 and its 200 day moving average is $116.74. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

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

PulteGroup declared that its board has authorized a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Tuesday, March 18th. PulteGroup's payout ratio is presently 5.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on PulteGroup from $148.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Monday. Wedbush reissued an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. The Goldman Sachs Group dropped their price objective on PulteGroup from $140.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Finally, Oppenheimer lowered their price target on PulteGroup from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.21.

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.