Sherbrooke Park Advisers LLC Invests $433,000 in PulteGroup, Inc. (NYSE:PHM)

Sherbrooke Park Advisers LLC purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,979 shares of the construction company's stock, valued at approximately $433,000.

Several other large investors also recently modified their holdings of PHM. Hager Investment Management Services LLC bought a new position in PulteGroup during the fourth quarter worth $29,000. TD Waterhouse Canada Inc. raised its holdings in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after purchasing an additional 105 shares during the period. R Squared Ltd acquired a new position in shares of PulteGroup during the fourth quarter valued at about $39,000. Quarry LP bought a new position in shares of PulteGroup during the 4th quarter worth about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded down $0.69 during trading on Friday, reaching $97.89. The company's stock had a trading volume of 409,299 shares, compared to its average volume of 2,201,395. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.29 and a beta of 1.37. The firm has a 50 day moving average of $100.66 and a 200-day moving average of $110.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. During the same quarter in the prior year, the business earned $3.10 earnings per share. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has approved a stock repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.90%. PulteGroup's payout ratio is currently 6.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PHM shares. Bank of America cut their price target on PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Royal Bank of Canada lowered their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. UBS Group reduced their price target on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company dropped 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, April 14th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target of $134.69.

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.