Dai ichi Life Insurance Company Ltd Acquires Shares of 4,131 PulteGroup, Inc. (NYSE:PHM)

Dai ichi Life Insurance Company Ltd bought a new position in PulteGroup, Inc. (NYSE:PHM) during the 3rd quarter, Holdings Channel.com reports. The firm bought 4,131 shares of the construction company’s stock, valued at approximately $593,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Greenhaven Associates Inc. grew its stake in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after buying an additional 235,826 shares during the period. Hsbc Holdings PLC grew its position in shares of PulteGroup by 19.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of PulteGroup by 6.3% during the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after buying an additional 60,854 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PulteGroup by 35.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after acquiring an additional 223,841 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.7 %

NYSE:PHM opened at $136.53 on Friday. The firm has a 50-day simple moving average of $136.34 and a two-hundred day simple moving average of $126.32. The firm has a market cap of $28.00 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. PulteGroup, Inc. has a fifty-two week low of $86.59 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the business earned $2.90 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 6.49%.

Wall Street Analyst Weigh In

PHM has been the topic of a number of research analyst reports. Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Bank of America boosted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI lowered their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.