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

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in PulteGroup, Inc. (NYSE:PHM) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 316,252 shares of the construction company’s stock after acquiring an additional 8,996 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in PulteGroup were worth $34,804,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hager Investment Management Services LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at about $29,000. Fortitude Family Office LLC boosted its stake in PulteGroup by 74.1% during the fourth quarter. Fortitude Family Office LLC now owns 322 shares of the construction company’s stock valued at $35,000 after buying an additional 137 shares during the last quarter. R Squared Ltd purchased a new position in PulteGroup during the 4th quarter valued at 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 acquiring an additional 131 shares during the last quarter. Finally, Oakworth Capital Inc. raised its holdings in shares of PulteGroup by 642.2% during the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after acquiring an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 3.1 %

NYSE PHM opened at $101.76 on Friday. The stock has a market cap of $20.60 billion, a PE ratio of 6.92, a PEG ratio of 0.29 and a beta of 1.71. PulteGroup, Inc. has a 12 month low of $100.35 and a 12 month high of $149.47. The company’s 50-day moving average price is $107.58 and its 200-day moving average price is $121.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.86%. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its board has authorized a share repurchase program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PHM has been the topic of several research reports. Oppenheimer reduced their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Citigroup reduced their price objective on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Seaport Res Ptn raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.86.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the transaction, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. This trade represents a 23.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the completion of the sale, the director now directly owns 56,617 shares of the company’s stock, valued at $6,026,879.65. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,191 shares of company stock valued at $2,256,367 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.

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.