Horizon Advisory Services Inc. Sells 426 Shares of PulteGroup, Inc. (NYSE:PHM)

Horizon Advisory Services Inc. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 12.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,899 shares of the construction company’s stock after selling 426 shares during the quarter. PulteGroup makes up approximately 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 25th largest holding. Horizon Advisory Services Inc.’s holdings in PulteGroup were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of 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 in the last quarter. Transcendent Capital Group LLC purchased a new stake in PulteGroup during the 3rd quarter valued at $29,000. Hager Investment Management Services LLC purchased a new stake in PulteGroup in the fourth quarter worth $29,000. JNBA Financial Advisors purchased a new stake in PulteGroup in the third quarter worth $43,000. Finally, R Squared Ltd purchased a new stake in PulteGroup in the fourth quarter worth $39,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $101.64 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day moving average price is $110.56 and its 200-day moving average price is $125.25. The firm has a market capitalization of $20.58 billion, a PE ratio of 6.91, a P/E/G ratio of 0.29 and a beta of 1.68. PulteGroup, Inc. has a 1 year low of $100.54 and a 1 year high of $149.47.

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 analysts’ consensus estimates of $3.28 by $0.22. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup declared that its Board of Directors has approved a share buyback program on Thursday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.87%. PulteGroup’s payout ratio is currently 5.98%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PHM. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of PulteGroup in a research report on Friday, January 31st. UBS Group raised their price target on PulteGroup from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Oppenheimer lowered their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

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.