Bessemer Group Inc. Lowers Holdings in PulteGroup, Inc. (NYSE:PHM)

Bessemer Group Inc. cut its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 55.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,133 shares of the construction company's stock after selling 10,226 shares during the period. Bessemer Group Inc.'s holdings in PulteGroup were worth $836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in PulteGroup in the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. increased its holdings in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares in the last quarter. American National Bank & Trust purchased a new position in shares of PulteGroup in the first quarter worth $39,000. Quarry LP bought a new position in shares of PulteGroup during the fourth quarter valued at $43,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of PulteGroup during the first quarter valued at $61,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded up $4.47 during mid-day trading on Tuesday, hitting $109.93. 3,340,870 shares of the company traded hands, compared to its average volume of 2,160,153. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average price is $101.86 and its 200-day moving average price is $104.79. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.31 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. During the same period in the previous year, the company posted $3.10 EPS. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.80%. PulteGroup's payout ratio is currently 6.21%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PHM shares. UBS Group decreased their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank Of Canada decreased their target price on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush reissued an "outperform" rating and set a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Company 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.