1,580 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Balboa Wealth Partners

Balboa Wealth Partners bought a new stake in PulteGroup, Inc. (NYSE:PHM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,580 shares of the construction company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Grove Bank & Trust boosted its position in shares of PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares during the period. WR Wealth Planners LLC lifted its stake in PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Cromwell Holdings LLC boosted its position in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after buying an additional 83 shares during the period. Concord Wealth Partners grew its stake in shares of PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

PulteGroup Trading Down 0.4 %

PHM opened at $128.89 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The company has a market cap of $26.43 billion, a P/E ratio of 9.51, a PEG ratio of 0.52 and a beta of 1.63. The business’s 50-day simple moving average is $137.31 and its 200-day simple moving average is $125.17.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.90 earnings per share. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is currently 5.90%.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Raymond James upped their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America raised their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Barclays upped their price objective on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup 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.