Meiji Yasuda Life Insurance Co Sells 1,331 Shares of PulteGroup, Inc. $PHM

Meiji Yasuda Life Insurance Co reduced its position in PulteGroup, Inc. (NYSE:PHM) by 10.3% during the first quarter, Holdings Channel reports. The institutional investor owned 11,544 shares of the construction company’s stock after selling 1,331 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in PulteGroup were worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Tocqueville Asset Management L.P. boosted its holdings in shares of PulteGroup by 2.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock valued at $520,000 after buying an additional 100 shares in the last quarter. NDVR Inc. boosted its holdings in shares of PulteGroup by 6.0% in the 4th quarter. NDVR Inc. now owns 1,984 shares of the construction company’s stock valued at $216,000 after buying an additional 112 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of PulteGroup by 15.9% in the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock valued at $93,000 after buying an additional 125 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of PulteGroup by 1.9% in the 1st quarter. Signaturefd LLC now owns 6,644 shares of the construction company’s stock valued at $683,000 after buying an additional 127 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its holdings in shares of PulteGroup by 6.3% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company’s stock valued at $230,000 after buying an additional 133 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $141.41 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a 50 day simple moving average of $121.20 and a two-hundred day simple moving average of $108.40. The stock has a market cap of $27.90 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.41 and a beta of 1.26.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the business posted $3.83 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup’s payout ratio is presently 6.58%.

Analysts Set New Price Targets

A number of research firms recently commented on PHM. Citigroup lifted their target price on shares of PulteGroup from $128.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $136.46.

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.