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

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

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $29,000. TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after buying an additional 105 shares during the period. R Squared Ltd acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $39,000. Quarry LP acquired a new position in PulteGroup in the fourth quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in PulteGroup by 41.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company's stock valued at $48,000 after acquiring an additional 131 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Ratings Changes

PHM has been the topic of a number of research analyst reports. Seaport Res Ptn raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Evercore ISI upped their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Finally, UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Stock Down 1.8%

Shares of PHM traded down $1.90 during trading hours on Tuesday, reaching $101.17. 1,283,288 shares of the stock traded hands, compared to its average volume of 1,998,474. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $110.74. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.29 and a beta of 1.37.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The company had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. During the same period in the previous year, the business posted $3.10 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The company also recently announced 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. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio is currently 6.21%.

PulteGroup declared that its board has approved a stock buyback program on Thursday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.