Aster Capital Management DIFC Ltd Takes Position in PulteGroup, Inc. (NYSE:PHM)

Aster Capital Management DIFC Ltd bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 738 shares of the construction company’s stock, valued at approximately $80,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $427,562,000. Amundi grew its position in PulteGroup by 77.9% during the fourth quarter. Amundi now owns 1,636,562 shares of the construction company’s stock valued at $180,775,000 after buying an additional 716,716 shares during the period. Franklin Resources Inc. increased its holdings in PulteGroup by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company’s stock valued at $1,300,034,000 after buying an additional 683,592 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of PulteGroup by 3,118.4% in the third quarter. Lord Abbett & CO. LLC now owns 376,717 shares of the construction company’s stock worth $54,070,000 after acquiring an additional 365,012 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of PulteGroup by 837.9% during the 3rd quarter. Tidal Investments LLC now owns 173,727 shares of the construction company’s stock worth $24,935,000 after acquiring an additional 155,204 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. UBS Group upped their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Bank of America cut their price target on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.64.

Insiders Place Their Bets

In other news, VP Brien P. O’meara sold 3,500 shares of PulteGroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now owns 11,372 shares of the company’s stock, valued at approximately $1,209,980.80. The trade was a 23.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total value of $1,617,841.50. Following the completion of the transaction, the executive vice president now owns 74,758 shares in the company, valued at $7,961,727. This represents a 16.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock valued at $2,256,367 over the last ninety days. Company insiders own 0.76% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $91.79 on Wednesday. PulteGroup, Inc. has a 1 year low of $90.45 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $18.58 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The business has a 50 day simple moving average of $104.79 and a 200-day simple moving average of $119.03.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, January 30th. The construction company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, March 18th. PulteGroup’s payout ratio is currently 5.98%.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Thursday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.