PulteGroup, Inc. (NYSE:PHM) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,985 shares of the construction company’s stock after selling 612 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PulteGroup were worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. purchased a new position in shares of PulteGroup during the 1st quarter valued at about $26,000. WR Wealth Planners LLC raised its position in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in PulteGroup in the first quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new stake in PulteGroup in the 2nd quarter worth approximately $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup during the 2nd quarter worth approximately $33,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock worth $15,814,039 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Stock Up 0.4 %

NYSE PHM opened at $140.99 on Thursday. The business has a fifty day moving average price of $127.82 and a 200 day moving average price of $118.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $29.66 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.55 and a beta of 1.62. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $144.18.

PulteGroup (NYSE:PHM) last released its 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 business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James boosted their target price on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BTIG Research increased their target price on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Bank of America raised their price objective on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

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.