Argyle Capital Management LLC Trims Stock Holdings in PulteGroup, Inc. $PHM

Argyle Capital Management LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 2.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 41,191 shares of the construction company’s stock after selling 1,000 shares during the period. PulteGroup comprises approximately 1.6% of Argyle Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Argyle Capital Management LLC’s holdings in PulteGroup were worth $4,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC purchased a new stake in PulteGroup in the 1st quarter valued at about $25,000. Hager Investment Management Services LLC grew its position in PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in PulteGroup in the 1st quarter valued at about $54,000. REAP Financial Group LLC grew its position in PulteGroup by 188.1% in the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after acquiring an additional 348 shares in the last quarter. Finally, Quarry LP grew its position in PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after acquiring an additional 174 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM opened at $121.27 on Friday. The stock has a 50 day moving average price of $130.46 and a 200 day moving average price of $112.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.29. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.83 earnings per share. Research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio is 6.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PHM. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Evercore ISI set a $154.00 target price on PulteGroup and gave the company an “in-line” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $136.46.

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.