Burney Co. Sells 57,327 Shares of PulteGroup, Inc. (NYSE:PHM)

Burney Co. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 37.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 97,717 shares of the construction company's stock after selling 57,327 shares during the period. Burney Co.'s holdings in PulteGroup were worth $10,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of PulteGroup during the third quarter valued at approximately $29,000. JNBA Financial Advisors acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $43,000. Thurston Springer Miller Herd & Titak Inc. raised its position in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company's stock worth $45,000 after purchasing an additional 286 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock worth $66,000 after buying an additional 72 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 2.9 %

Shares of NYSE:PHM traded up $3.27 during midday trading on Wednesday, reaching $115.77. 2,365,788 shares of the company were exchanged, compared to its average volume of 1,878,901. The firm has a market cap of $23.74 billion, a PE ratio of 8.54, a P/E/G ratio of 0.48 and a beta of 1.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The stock has a fifty day simple moving average of $121.20 and a two-hundred day simple moving average of $126.93.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.90 earnings per share. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.76%. This is an increase from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio is 6.49%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Bank of America raised their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, December 13th. Wedbush upgraded shares of PulteGroup from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a report on Friday, January 3rd. Finally, UBS Group raised shares of PulteGroup from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $145.21.

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.