Argyle Capital Management Inc. Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Argyle Capital Management Inc. cut its stake in PulteGroup, Inc. (NYSE:PHM) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,709 shares of the construction company’s stock after selling 12,150 shares during the period. PulteGroup makes up 2.6% of Argyle Capital Management Inc.’s holdings, making the stock its 6th largest position. Argyle Capital Management Inc.’s holdings in PulteGroup were worth $6,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PHM. Arlington Trust Co LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth approximately $33,000. Baystate Wealth Management LLC increased its holdings in PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in PulteGroup during the third quarter worth $36,000. Rakuten Securities Inc. acquired a new stake in PulteGroup in the fourth quarter valued at $37,000. Finally, Lindbrook Capital LLC grew its position in shares of PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after acquiring an additional 292 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Price Performance

NYSE PHM traded up $2.44 during trading on Friday, hitting $113.80. 1,747,255 shares of the company’s stock were exchanged, compared to its average volume of 1,741,133. The company has a market cap of $23.94 billion, a PE ratio of 9.11, a P/E/G ratio of 0.53 and a beta of 1.56. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $121.07. The stock’s 50 day moving average price is $111.28 and its two-hundred day moving average price is $99.76.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.63 EPS. Research analysts expect that PulteGroup, Inc. will post 12.66 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.70%. PulteGroup’s payout ratio is presently 6.41%.

Wall Street Analyst Weigh In

PHM has been the topic of several research analyst reports. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their price objective for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Royal Bank of Canada raised their price target on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday. Raymond James reiterated an “outperform” rating and issued a $135.00 price objective (up from $120.00) on shares of PulteGroup in a report on Thursday. Citigroup raised their target price on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays upped their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

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.