70,119 Shares in PulteGroup, Inc. (NYSE:PHM) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 70,119 shares of the construction company's stock, valued at approximately $7,642,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new stake in PulteGroup during the fourth quarter worth about $29,000. Fortitude Family Office LLC increased its stake in PulteGroup by 74.1% during the 4th quarter. Fortitude Family Office LLC now owns 322 shares of the construction company's stock worth $35,000 after buying an additional 137 shares during the period. R Squared Ltd acquired a new stake in PulteGroup during the 4th quarter worth approximately $39,000. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 valued at $48,000 after buying an additional 131 shares during the period. Finally, Oakworth Capital Inc. boosted its position in PulteGroup by 642.2% in the 4th quarter. Oakworth Capital Inc. now owns 475 shares of the construction company's stock valued at $52,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

PHM traded up $0.70 on Friday, reaching $94.38. The company had a trading volume of 2,580,035 shares, compared to its average volume of 1,990,343. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The stock has a market capitalization of $19.11 billion, a PE ratio of 6.42, a P/E/G ratio of 0.29 and a beta of 1.44. The stock has a 50-day moving average price of $103.40 and a 200-day moving average price of $117.74.

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PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results 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 forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Tuesday, March 18th. PulteGroup's payout ratio is currently 5.98%.

PulteGroup declared that its board has authorized a share repurchase plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. 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. Wells Fargo & Company reduced their price target on PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Bank of America reduced their target price on shares of PulteGroup from $135.00 to $134.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $139.64.

Insider Transactions at PulteGroup

In other news, VP Brien P. O'meara sold 3,500 shares of the 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 completion of the sale, the vice president now owns 11,372 shares in the company, valued at approximately $1,209,980.80. This represents a 23.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value 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 $7,961,727. This trade represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,191 shares of company stock worth $2,256,367. Insiders own 0.76% of the company's stock.

PulteGroup Company 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.