Resona Asset Management Co. Ltd. Acquires New Shares in PulteGroup, Inc. (NYSE:PHM)

Resona Asset Management Co. Ltd. bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,119 shares of the construction company’s stock, valued at approximately $7,642,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its position in PulteGroup by 16.7% during the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock worth $68,000 after buying an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of PulteGroup by 3.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after acquiring an additional 95 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of PulteGroup by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 13,224 shares of the construction company’s stock valued at $1,440,000 after acquiring an additional 95 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in PulteGroup by 2.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,384 shares of the construction company’s stock worth $479,000 after purchasing an additional 103 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in PulteGroup by 3.7% during the fourth quarter. Wedmont Private Capital now owns 3,050 shares of the construction company’s stock worth $328,000 after purchasing an additional 110 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $96.03 on Tuesday. PulteGroup, Inc. has a twelve month low of $95.14 and a twelve month high of $149.47. 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 firm has a market cap of $19.44 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The firm’s 50-day simple moving average is $105.68 and its 200-day simple moving average is $119.58.

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

PulteGroup declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally an indication that the company’s board believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.92%. PulteGroup’s dividend payout ratio is currently 5.98%.

Insider Buying and Selling at PulteGroup

In related news, Director Brian P. Anderson sold 2,500 shares of PulteGroup stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the transaction, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, 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 three months, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Thursday, March 6th. UBS Group upped their price target on shares of PulteGroup from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Wells Fargo & Company decreased their target price on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.86.

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.