Blackhawk Capital Partners LLC. Takes Position in PulteGroup, Inc. (NYSE:PHM)

Blackhawk Capital Partners LLC. purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,553 shares of the construction company’s stock, valued at approximately $223,000.

Several other large investors have also made changes to their positions in the company. Brown Capital Management LLC acquired a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $240,000. Trustmark National Bank Trust Department grew its stake in shares of PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after buying an additional 11,269 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of PulteGroup during the third quarter worth $212,000. Landscape Capital Management L.L.C. bought a new position in shares of PulteGroup in the 3rd quarter valued at $1,074,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of PulteGroup during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 0.4 %

Shares of NYSE PHM opened at $128.06 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a market cap of $26.26 billion, a PE ratio of 9.44, a P/E/G ratio of 0.52 and a beta of 1.63. The company’s fifty day simple moving average is $137.07 and its 200 day simple moving average is $125.67. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47.

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

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

Analysts Set New Price Targets

Several equities analysts have commented on PHM shares. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Barclays lifted their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. UBS Group boosted their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Raymond James boosted their price objective 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. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity

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

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.