Meiji Yasuda Asset Management Co Ltd. Purchases 1,473 Shares of PulteGroup, Inc. (NYSE:PHM)

Meiji Yasuda Asset Management Co Ltd. lifted its position in PulteGroup, Inc. (NYSE:PHM) by 4.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 32,647 shares of the construction company’s stock after acquiring an additional 1,473 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PulteGroup were worth $3,555,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Logan Capital Management Inc. boosted its position in shares of PulteGroup by 67.7% during the third quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after buying an additional 5,976 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after buying an additional 33,472 shares during the period. Systematic Financial Management LP lifted its stake in shares of PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after acquiring an additional 4,840 shares during the last quarter. Nilsine Partners LLC boosted its holdings in PulteGroup by 929.2% during the 4th quarter. Nilsine Partners LLC now owns 20,574 shares of the construction company’s stock valued at $2,240,000 after acquiring an additional 18,575 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in PulteGroup by 3.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 4,559 shares of the construction company’s stock valued at $496,000 after acquiring an additional 143 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Seaport Res Ptn upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays lowered their price objective on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Oppenheimer lowered their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $105.28 on Wednesday. PulteGroup, Inc. has a one year low of $100.35 and a one year high of $149.47. The company has a market capitalization of $21.31 billion, a PE ratio of 7.16, a P/E/G ratio of 0.29 and a beta of 1.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50-day simple moving average of $108.34 and a two-hundred day simple moving average of $121.83.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.84%. PulteGroup’s dividend payout ratio is presently 5.98%.

PulteGroup announced that its board has approved a stock buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at PulteGroup

In related news, VP Brien P. O’meara sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the transaction, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. This trade represents a 23.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the sale, the executive vice president now directly owns 74,758 shares in the company, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,191 shares of company stock valued at $2,256,367 in the last quarter. 0.83% of the stock is currently owned by corporate insiders.

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.