PulteGroup, Inc. (NYSE:PHM) Shares Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 148.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,050 shares of the construction company’s stock after purchasing an additional 7,800 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in PulteGroup were worth $1,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Norges Bank acquired a new position in PulteGroup during the 4th quarter worth approximately $381,960,000. Allianz Asset Management GmbH lifted its stake in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after buying an additional 523,623 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after buying an additional 219,609 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after buying an additional 212,837 shares in the last quarter. Finally, Homestead Advisers Corp purchased a new stake in PulteGroup in the 4th quarter valued at approximately $20,417,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 0.9 %

NYSE PHM traded down $1.18 during trading hours on Wednesday, hitting $132.00. The company had a trading volume of 1,860,682 shares, compared to its average volume of 1,857,145. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $135.62. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.54 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day moving average is $114.89 and its 200 day moving average is $111.99.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.85 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. PulteGroup’s payout ratio is currently 6.41%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup cut their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Oppenheimer boosted their price target on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $115.00 price objective (up from $105.00) on shares of PulteGroup in a report on Tuesday, July 23rd. Finally, Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

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.