Mackenzie Financial Corp Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Mackenzie Financial Corp raised its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,118 shares of the construction company's stock after purchasing an additional 7,181 shares during the quarter. Mackenzie Financial Corp owned about 0.18% of PulteGroup worth $37,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Inlet Private Wealth LLC increased its stake in PulteGroup by 2.6% during the 1st quarter. Inlet Private Wealth LLC now owns 15,135 shares of the construction company's stock valued at $1,556,000 after purchasing an additional 385 shares in the last quarter. Bellwether Advisors LLC increased its stake in shares of PulteGroup by 4,206.3% in the first quarter. Bellwether Advisors LLC now owns 6,201 shares of the construction company's stock worth $637,000 after acquiring an additional 6,057 shares during the period. Inspire Advisors LLC increased its stake in shares of PulteGroup by 5.7% in the first quarter. Inspire Advisors LLC now owns 9,566 shares of the construction company's stock worth $983,000 after acquiring an additional 515 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PulteGroup by 26.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 433,815 shares of the construction company's stock worth $44,596,000 after acquiring an additional 89,976 shares during the period. Finally, Empirical Finance LLC increased its stake in shares of PulteGroup by 3.1% in the first quarter. Empirical Finance LLC now owns 7,956 shares of the construction company's stock worth $818,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Price Performance

PHM traded up $3.83 on Friday, reaching $116.75. 2,028,856 shares of the company's stock were exchanged, compared to its average volume of 2,187,259. The stock has a market cap of $23.03 billion, a PE ratio of 8.73, a P/E/G ratio of 0.33 and a beta of 1.29. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock's fifty day moving average price is $106.55 and its 200-day moving average price is $105.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.83 earnings per share. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup 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.