Horizon Advisory Services Inc. Has $316,000 Position in PulteGroup, Inc. (NYSE:PHM)

Horizon Advisory Services Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,899 shares of the construction company’s stock after selling 426 shares during the quarter. PulteGroup accounts for about 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 25th largest position. Horizon Advisory Services Inc.’s holdings in PulteGroup were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Concord Wealth Partners lifted its position in shares of PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in PulteGroup by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after buying an additional 88 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of PulteGroup by 16.7% in the fourth quarter. Richardson Financial Services Inc. now owns 622 shares of the construction company’s stock valued at $68,000 after purchasing an additional 89 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of PulteGroup by 3.8% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after purchasing an additional 95 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of PulteGroup by 2.8% in the third quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after purchasing an additional 97 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PHM. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Seaport Res Ptn downgraded shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Barclays cut their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Bank of America cut their target price on shares of PulteGroup from $135.00 to $134.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Citigroup cut their price target on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $140.86.

PulteGroup Price Performance

PHM opened at $101.64 on Tuesday. The stock has a 50-day moving average price of $110.56 and a 200-day moving average price of $125.25. 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 firm has a market cap 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 issued its earnings results 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%. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Thursday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company’s 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 $7,961,727. This represents a 16.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brien P. O’meara sold 3,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $106.40, for a total transaction of $372,400.00. Following the sale, the vice president now directly owns 11,372 shares of the company’s stock, valued at $1,209,980.80. The trade was a 23.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,191 shares of company stock valued at $2,256,367. 0.75% 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.