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

Argyle Capital Management Inc. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 21.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,600 shares of the construction company’s stock after selling 11,084 shares during the quarter. PulteGroup accounts for 2.4% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position. Argyle Capital Management Inc.’s holdings in PulteGroup were worth $5,971,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Greenhaven Associates Inc. raised its stake in PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock valued at $802,789,000 after buying an additional 16,871 shares during the period. Pacer Advisors Inc. lifted its holdings in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the last quarter. Captrust Financial Advisors boosted its position in PulteGroup by 18.4% during the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after purchasing an additional 168,746 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of PulteGroup by 5.9% in the second quarter. Victory Capital Management Inc. now owns 964,422 shares of the construction company’s stock valued at $106,183,000 after purchasing an additional 53,924 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction 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 owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s 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 transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PHM shares. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada upped their target price on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup decreased their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Bank of America lifted their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Trading Down 4.5 %

Shares of NYSE:PHM traded down $6.04 during mid-day trading on Tuesday, reaching $127.84. 1,649,081 shares of the company’s stock were exchanged, compared to its average volume of 1,834,102. The business’s fifty day moving average price is $137.31 and its 200-day moving average price is $123.47. PulteGroup, Inc. has a twelve month low of $71.20 and a twelve month high of $149.47. The firm has a market capitalization of $26.22 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.54 and a beta of 1.62. 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 (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.98 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

About PulteGroup

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.