Aster Capital Management DIFC Ltd Grows Holdings in PulteGroup, Inc. $PHM

Aster Capital Management DIFC Ltd grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 154.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,793 shares of the construction company’s stock after buying an additional 10,789 shares during the quarter. PulteGroup accounts for approximately 1.2% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 9th largest holding. Aster Capital Management DIFC Ltd’s holdings in PulteGroup were worth $2,351,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PHM. Railway Pension Investments Ltd raised its position in PulteGroup by 2.4% during the 2nd quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock valued at $14,526,000 after purchasing an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of PulteGroup by 10.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock worth $13,959,000 after buying an additional 10,028 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of PulteGroup by 24.2% during the third quarter. Principal Financial Group Inc. now owns 312,935 shares of the construction company’s stock valued at $41,348,000 after buying an additional 61,009 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of PulteGroup by 16.1% during the third quarter. Envestnet Asset Management Inc. now owns 371,228 shares of the construction company’s stock valued at $49,050,000 after acquiring an additional 51,506 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in PulteGroup by 129.5% in the second quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock worth $15,778,000 after acquiring an additional 85,637 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $149.00 price objective (up from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Citigroup lifted their target price on shares of PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Barclays set a $115.00 price target on shares of PulteGroup in a research note on Monday, December 8th. Raymond James Financial restated an “outperform” rating and issued a $145.00 price objective on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $140.62.

Insider Transactions at PulteGroup

In other PulteGroup news, EVP Kevin A. Henry sold 5,173 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the completion of the transaction, the executive vice president owned 14,673 shares of the company’s stock, valued at approximately $2,069,333.19. The trade was a 26.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total transaction of $14,891,925.00. Following the transaction, the insider owned 659,392 shares in the company, valued at $88,266,213.12. This represents a 14.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 149,952 shares of company stock valued at $20,162,165. Insiders own 0.76% of the company’s stock.

PulteGroup Trading Up 0.8%

Shares of NYSE PHM opened at $135.64 on Friday. The firm’s 50 day moving average price is $129.02 and its 200-day moving average price is $127.50. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $26.09 billion, a PE ratio of 12.20, a P/E/G ratio of 1.57 and a beta of 1.33.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s payout ratio is currently 9.35%.

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.