PulteGroup, Inc. (PHM) Stake Raised by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 29.8% during the second quarter, Holdings Channel reports. The institutional investor owned 77,466 shares of the construction company’s stock after buying an additional 17,804 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in PulteGroup were worth $1,900,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. James Investment Research Inc. bought a new position in PulteGroup during the first quarter worth approximately $427,000. Hexavest Inc. boosted its position in PulteGroup by 4.8% in the first quarter. Hexavest Inc. now owns 3,263,222 shares of the construction company’s stock worth $76,849,000 after buying an additional 149,914 shares during the period. Trust Department MB Financial Bank N A bought a new position in PulteGroup during the first quarter worth approximately $129,000. Boston Advisors LLC bought a new position in PulteGroup during the first quarter worth approximately $17,839,000. Finally, Patten & Patten Inc. TN boosted its position in PulteGroup by 6.9% in the first quarter. Patten & Patten Inc. TN now owns 580,675 shares of the construction company’s stock worth $13,675,000 after buying an additional 37,270 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.
Shares of PulteGroup, Inc. (NYSE PHM) opened at 25.92 on Thursday. The firm’s 50-day moving average is $24.74 and its 200-day moving average is $23.39. PulteGroup, Inc. has a 52-week low of $17.69 and a 52-week high of $25.97. The firm has a market cap of $7.82 billion, a P/E ratio of 14.34 and a beta of 1.14.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. PulteGroup’s revenue was up 12.3% on a year-over-year basis. Analysts anticipate that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
A number of research analysts have recently commented on the stock. BidaskClub cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, April 26th. UBS AG cut shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Wedbush raised shares of PulteGroup from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $22.00 in a report on Thursday, July 13th. Finally, FBR & Co reissued an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of PulteGroup in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.08.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the transaction, the director now owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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