Meiji Yasuda Life Insurance Co Boosts Stock Position in PulteGroup, Inc. (NYSE:PHM)

Meiji Yasuda Life Insurance Co grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 148.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,050 shares of the construction company’s stock after buying an additional 7,800 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in PulteGroup were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. E Fund Management Hong Kong Co. Ltd. purchased a new stake in PulteGroup in the 1st quarter valued at $26,000. Benjamin Edwards Inc. purchased a new stake in PulteGroup in the 1st quarter valued at $26,000. Rakuten Securities Inc. purchased a new stake in PulteGroup in the 4th quarter valued at $37,000. Lindbrook Capital LLC grew its holdings in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after buying an additional 292 shares in the last quarter. Finally, Security National Bank purchased a new stake in PulteGroup in the 4th quarter valued at $40,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Down 0.9 %

Shares of PHM traded down $1.18 during mid-day trading on Wednesday, reaching $132.00. The company’s stock had a trading volume of 1,860,682 shares, compared to its average volume of 1,857,145. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $135.62. The stock has a market cap of $27.39 billion, a PE ratio of 10.65, a price-to-earnings-growth 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 company’s 50 day moving average is $114.89 and its 200 day moving average is $111.99.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The firm had revenue of $4.60 billion for 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 quarter last year, the business posted $3.00 EPS. Equities analysts anticipate that PulteGroup, Inc. will post 12.85 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date 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 6.41%.

Wall Street Analysts Forecast Growth

PHM has been the topic of several recent analyst reports. Royal Bank of Canada upped their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. BTIG Research upped their price target on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Raymond James increased their target price on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI increased their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup 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.