Mitsubishi UFJ Asset Management Co. Ltd. Acquires 8,996 Shares of PulteGroup, Inc. (NYSE:PHM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 316,252 shares of the construction company’s stock after purchasing an additional 8,996 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of PulteGroup worth $34,804,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Hager Investment Management Services LLC bought a new position in shares of PulteGroup during the fourth quarter valued at about $29,000. Fortitude Family Office LLC boosted its holdings in PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after acquiring an additional 137 shares during the period. R Squared Ltd purchased a new position in PulteGroup in the 4th quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in PulteGroup by 41.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 444 shares of the construction company’s stock worth $48,000 after purchasing an additional 131 shares during the period. Finally, Oakworth Capital Inc. lifted its position in PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock valued at $52,000 after purchasing an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $101.76 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $20.60 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71. The firm’s 50 day moving average price is $107.58 and its 200-day moving average price is $121.31. PulteGroup, Inc. has a twelve month low of $100.35 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share 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%. Equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

PulteGroup announced that its Board of Directors has initiated a share 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 buy up to 6.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

PHM has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Bank of America dropped their price objective on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the transaction, the director now owns 56,617 shares of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This trade represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.76% of the company’s stock.

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.