Norinchukin Bank The Boosts Stake in PulteGroup, Inc. (PHM)

Norinchukin Bank The increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 484.1% during the first quarter, Holdings Channel reports. The fund owned 105,470 shares of the construction company’s stock after buying an additional 87,413 shares during the period. Norinchukin Bank The’s holdings in PulteGroup were worth $2,484,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Trust Department MB Financial Bank N A bought a new position in PulteGroup during the first quarter worth about $129,000. IFP Advisors Inc raised its position in PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares during the last quarter. Acadian Asset Management LLC bought a new position in PulteGroup during the first quarter worth about $197,000. Commerce Bank bought a new position in PulteGroup during the first quarter worth about $207,000. Finally, Telemus Capital LLC bought a new position in PulteGroup during the first quarter worth about $220,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) traded up 1.67% during mid-day trading on Friday, reaching $23.13. The company’s stock had a trading volume of 3,835,508 shares. The firm’s 50 day moving average price is $23.08 and its 200 day moving average price is $21.04. The firm has a market capitalization of $7.30 billion, a P/E ratio of 12.77 and a beta of 1.24. PulteGroup, Inc. has a 52 week low of $17.69 and a 52 week high of $24.43.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. PulteGroup had a return on equity of 12.29% and a net margin of 7.86%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts anticipate that PulteGroup, Inc. will post $2.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Thursday, June 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 6th. PulteGroup’s payout ratio is 20.22%.

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A number of research firms have recently issued reports on PHM. Wedbush reissued an “underperform” rating and issued a $15.00 target price on shares of PulteGroup in a report on Tuesday, May 9th. Mizuho began coverage on PulteGroup in a report on Tuesday. They issued a “neutral” rating and a $22.00 target price on the stock. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, April 26th. Royal Bank of Canada boosted their target price on PulteGroup from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Finally, FBR & Co raised PulteGroup from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $23.00 to $26.00 in a report on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.30.

In other news, insider James R. Ellinghausen sold 33,814 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $21.82, for a total value of $737,821.48. Following the completion of the sale, the insider now owns 411,524 shares of the company’s stock, valued at $8,979,453.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Dugas, Jr. sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $24.00, for a total value of $72,000.00. Following the completion of the sale, the director now directly owns 1,052,927 shares of the company’s stock, valued at approximately $25,270,248. The disclosure for this sale can be found here. Insiders sold a total of 213,814 shares of company stock worth $5,067,531 over the last 90 days. Insiders own 1.83% of the company’s stock.

About PulteGroup

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.

5 Day Chart for NYSE:PHM

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