Argyle Capital Management LLC Has $4.60 Million Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Argyle Capital Management LLC lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,241 shares of the construction company’s stock after purchasing an additional 641 shares during the period. PulteGroup comprises 1.8% of Argyle Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Argyle Capital Management LLC’s holdings in PulteGroup were worth $4,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the third quarter worth $29,000. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup in the fourth quarter worth $29,000. R Squared Ltd acquired a new stake in PulteGroup in the fourth quarter valued at $39,000. Finally, JNBA Financial Advisors acquired a new stake in PulteGroup in the third quarter valued at $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Activity

In other news, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $106.40, for a total value of $372,400.00. Following the completion of the sale, the vice president now owns 11,372 shares in the company, valued at $1,209,980.80. This represents a 23.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Todd N. Sheldon sold 15,191 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,191 shares of company stock worth $2,256,367 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

PulteGroup Trading Down 1.5 %

NYSE PHM opened at $102.88 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $100.54 and a 52 week high of $149.47. The business has a 50 day moving average price of $110.11 and a 200-day moving average price of $124.84. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 0.29 and a beta of 1.68.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a stock buyback plan on Thursday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, March 18th. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

Analyst Upgrades and Downgrades

PHM has been the topic of a number of analyst reports. Barclays reduced their price target on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Friday, January 31st. Citigroup lowered their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. UBS Group boosted their price target on shares of PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

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.