Mitsubishi UFJ Asset Management Co. Ltd. Has $35.97 Million Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in PulteGroup, Inc. by 10.6%, owning 349,906 shares worth approximately $35.97 million.
• Wall Street analysts have optimistic forecasts for PulteGroup, with several firms raising their target prices, and the current consensus price target sits at $134.15.
• PulteGroup reported a quarterly EPS of $3.03, exceeding estimates, despite a revenue decline of 4.3% year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,906 shares of the construction company's stock after buying an additional 33,654 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of PulteGroup worth $35,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of PulteGroup during the 4th quarter valued at about $37,000. TD Waterhouse Canada Inc. lifted its stake in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust bought a new stake in PulteGroup in the 1st quarter valued at approximately $39,000. Quarry LP bought a new stake in PulteGroup in the 4th quarter valued at approximately $43,000. Finally, Catalyst Capital Advisors LLC bought a new stake in PulteGroup in the 1st quarter valued at approximately $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of NYSE:PHM traded up $3.05 during trading on Wednesday, reaching $126.38. 140,587 shares of the company traded hands, compared to its average volume of 2,156,531. The company's 50 day moving average is $110.08 and its two-hundred day moving average is $105.42. The firm has a market capitalization of $24.93 billion, a PE ratio of 9.44, a PEG ratio of 0.35 and a beta of 1.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the prior year, the company earned $3.83 EPS. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on PHM shares. Oppenheimer boosted their target price on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Evercore ISI boosted their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price target on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and a consensus target price of $134.15.

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.