PulteGroup, Inc. (NYSE:PHM) Stake Cut by Argyle Capital Management Inc.

Argyle Capital Management Inc. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,709 shares of the construction company’s stock after selling 12,150 shares during the quarter. PulteGroup accounts for approximately 2.6% of Argyle Capital Management Inc.’s holdings, making the stock its 6th biggest position. Argyle Capital Management Inc.’s holdings in PulteGroup were worth $6,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth $33,000. Baystate Wealth Management LLC increased its position 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in PulteGroup in the 3rd quarter valued at about $36,000. Rakuten Securities Inc. acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $37,000. Finally, Lindbrook Capital LLC lifted its stake in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction 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 sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM traded up $2.44 during trading hours on Friday, hitting $113.80. 1,747,255 shares of the company traded hands, compared to its average volume of 1,741,133. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 0.53 and a beta of 1.56. The firm has a 50-day moving average of $111.28 and a 200 day moving average of $99.76. PulteGroup, Inc. has a twelve month low of $64.70 and a twelve month high of $121.07.

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

PulteGroup declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

Analysts Set New Price Targets

PHM has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Wedbush reiterated a “neutral” rating and issued a $85.00 target price on shares of PulteGroup in a research report on Wednesday, January 31st. UBS Group lowered PulteGroup from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $93.00 to $120.00 in a report on Thursday, January 4th. Barclays lifted their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Citigroup boosted their price objective on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.