Mitsubishi UFJ Trust & Banking Corp Has $11.14 Million Stock Position in PulteGroup, Inc. $PHM

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in PulteGroup by 57.5%, selling 128,709 shares and now holding 95,010 shares valued at about $11.14 million.
• PulteGroup's board authorized a $1.50 billion share repurchase (up to 6.1% of outstanding shares) and declared a quarterly dividend of $0.26 per share ($1.04 annual, ~0.9% yield).
• For the latest quarter PulteGroup reported EPS of $1.79 (missing estimates by $0.01) and revenue of $3.41 billion, with revenue down 12.4% year‑over‑year.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 57.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,010 shares of the construction company's stock after selling 128,709 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in PulteGroup were worth $11,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. High Point Wealth Management LLC bought a new position in PulteGroup in the 4th quarter valued at about $38,000. Beacon Financial Strategies CORP purchased a new stake in PulteGroup in the 4th quarter valued at about $40,000. True Wealth Design LLC increased its stake in shares of PulteGroup by 229.6% during the 3rd quarter. True Wealth Design LLC now owns 356 shares of the construction company's stock worth $47,000 after purchasing an additional 248 shares during the last quarter. Fulcrum Asset Management LLP purchased a new stake in shares of PulteGroup during the 3rd quarter worth approximately $47,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of PulteGroup by 1,423.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company's stock worth $52,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PHM. Truist Financial cut their price objective on shares of PulteGroup from $170.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, April 16th. The Goldman Sachs Group raised their price target on shares of PulteGroup from $133.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of PulteGroup from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $149.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company lifted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

PulteGroup Price Performance

PHM stock opened at $119.44 on Friday. The firm's 50-day moving average price is $124.18 and its two-hundred day moving average price is $124.68. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.55 and a beta of 1.24. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12-month low of $95.20 and a 12-month high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.01). The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.40 billion. PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS. As a group, equities analysts predict that PulteGroup, Inc. will post 10.02 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup's payout ratio is presently 10.06%.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 23rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, COO Matthew William Koart sold 15,309 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the sale, the chief operating officer owned 42,418 shares of the company's stock, valued at approximately $5,759,940.22. The trade was a 26.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brien P. O'meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the sale, the vice president directly owned 8,601 shares in the company, valued at $1,165,521.51. The trade was a 31.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is owned by company insiders.

PulteGroup Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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