Berkshire Asset Management LLC PA Sells 2,520 Shares of PulteGroup, Inc. $PHM

Key Points

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Berkshire Asset Management LLC PA decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,009 shares of the construction company's stock after selling 2,520 shares during the quarter. Berkshire Asset Management LLC PA owned about 0.07% of PulteGroup worth $14,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in PulteGroup in the 4th quarter valued at $37,000. TD Waterhouse Canada Inc. raised its position in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust bought a new stake in PulteGroup during the first quarter worth $39,000. Quarry LP bought a new stake in PulteGroup during the fourth quarter worth $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup in the first quarter valued at about $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE PHM opened at $128.33 on Tuesday. The company has a fifty day simple moving average of $112.30 and a 200 day simple moving average of $105.73. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $25.32 billion, a P/E ratio of 9.59, a PEG ratio of 0.38 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the firm posted $3.83 EPS. PulteGroup's revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada increased their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Evercore ISI raised their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Finally, Citigroup increased their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $135.31.

PulteGroup Profile

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.

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