Argyle Capital Management Inc. Sells 11,084 Shares of PulteGroup, Inc. (NYSE:PHM)

Argyle Capital Management Inc. decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 21.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 41,600 shares of the construction company's stock after selling 11,084 shares during the period. PulteGroup makes up 2.4% of Argyle Capital Management Inc.'s holdings, making the stock its 8th largest position. Argyle Capital Management Inc.'s holdings in PulteGroup were worth $5,971,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its stake in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. LRI Investments LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $28,000. Rothschild Investment LLC acquired a new position in shares of PulteGroup in the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. bought a new stake in PulteGroup during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded down $4.30 during mid-day trading on Tuesday, hitting $129.58. The stock had a trading volume of 3,713,730 shares, compared to its average volume of 1,843,980. The company's 50 day simple moving average is $137.31 and its 200 day simple moving average is $123.47. The stock has a market cap of $26.57 billion, a price-to-earnings ratio of 10.27, 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, Inc. has a twelve month low of $71.20 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same period last year, the firm posted $2.90 earnings per share. The business's revenue was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.98 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, September 17th. PulteGroup's payout ratio is presently 6.41%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PHM shares. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday, July 24th. UBS Group increased their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Raymond James lifted their target price on PulteGroup from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Finally, Citigroup reduced their price target on PulteGroup from $129.00 to $117.00 and set a "neutral" rating for the company in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $145.00.

Insider Transactions at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the company's 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 in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by insiders.

PulteGroup Company 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.