PulteGroup, Inc. $PHM Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 85.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,521 shares of the construction company’s stock after selling 15,272 shares during the period. Aster Capital Management DIFC Ltd’s holdings in PulteGroup were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. raised its position in PulteGroup by 2.3% during the fourth quarter. William B. Walkup & Associates Inc. now owns 8,524 shares of the construction company’s stock worth $1,000,000 after acquiring an additional 195 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in PulteGroup during the fourth quarter worth about $590,000. Vanguard Personalized Indexing Management LLC raised its position in PulteGroup by 2.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 49,036 shares of the construction company’s stock worth $5,750,000 after acquiring an additional 1,182 shares during the last quarter. Saber Capital Managment LLC acquired a new position in PulteGroup during the fourth quarter worth about $952,000. Finally, MML Investors Services LLC raised its position in PulteGroup by 0.3% during the fourth quarter. MML Investors Services LLC now owns 65,406 shares of the construction company’s stock worth $7,670,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

PulteGroup stock opened at $124.74 on Wednesday. PulteGroup, Inc. has a 1 year low of $98.27 and a 1 year high of $144.49. The firm has a 50 day moving average price of $119.86 and a 200 day moving average price of $124.17. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94.

PulteGroup (NYSE:PHM) last released its earnings results on Thursday, April 23rd. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.01). PulteGroup had a net margin of 12.14% and a return on equity of 16.41%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. PulteGroup’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 10 earnings per share for the current year.

PulteGroup announced that its board has initiated a stock repurchase program on Thursday, April 23rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to purchase up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 16th. PulteGroup’s payout ratio is presently 10.06%.

Insider Buying and Selling

In related news, Director Lila Snyder sold 3,339 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the completion of the sale, the director directly owned 3,540 shares in the company, valued at approximately $414,817.20. The trade was a 48.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew William Koart sold 7,457 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. The trade was a 20.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PHM shares. Wells Fargo & Company lifted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Evercore lifted their price target on shares of PulteGroup from $146.00 to $151.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $133.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, UBS Group lifted their price target on shares of PulteGroup from $159.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

PulteGroup Company 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.