Tokio Marine Asset Management Co. Ltd. Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Tokio Marine Asset Management Co. Ltd. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,776 shares of the construction company’s stock after selling 358 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PulteGroup were worth $803,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arlington Trust Co LLC purchased a new stake in PulteGroup during the 3rd quarter worth about $33,000. Baystate Wealth Management LLC increased its position in PulteGroup by 186.5% during the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in PulteGroup during the 3rd quarter worth about $36,000. Rakuten Securities Inc. purchased a new stake in PulteGroup during the 4th quarter worth about $37,000. Finally, Lindbrook Capital LLC grew its holdings in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insiders Place Their Bets

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by company insiders.

PulteGroup Stock Performance

PulteGroup stock opened at $113.74 on Friday. The stock’s 50 day moving average price is $111.28 and its 200 day moving average price is $99.42. The firm has a market capitalization of $23.92 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. PulteGroup, Inc. has a one year low of $64.70 and a one year high of $121.07.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the company posted $3.63 EPS. PulteGroup’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.28 EPS for the current fiscal year.

PulteGroup announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.70%. PulteGroup’s dividend payout ratio is presently 6.41%.

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. Barclays lifted their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group lifted their price target on PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Citigroup lifted their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Wedbush restated a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Finally, StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

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.