Mackenzie Financial Corp Decreases Stake in PulteGroup, Inc. (NYSE:PHM)

Mackenzie Financial Corp lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,937 shares of the construction company's stock after selling 140,321 shares during the quarter. Mackenzie Financial Corp owned about 0.18% of PulteGroup worth $38,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. RFG Advisory LLC raised its stake in shares of PulteGroup by 45.9% in the fourth quarter. RFG Advisory LLC now owns 2,153 shares of the construction company's stock valued at $234,000 after acquiring an additional 677 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of PulteGroup by 38.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,046 shares of the construction company's stock worth $767,000 after purchasing an additional 1,948 shares during the last quarter. Patton Albertson Miller Group LLC grew its holdings in shares of PulteGroup by 2.2% in the fourth quarter. Patton Albertson Miller Group LLC now owns 76,471 shares of the construction company's stock worth $8,328,000 after purchasing an additional 1,628 shares during the last quarter. Vista Investment Partners LLC grew its holdings in shares of PulteGroup by 3.1% in the fourth quarter. Vista Investment Partners LLC now owns 18,818 shares of the construction company's stock worth $2,049,000 after purchasing an additional 564 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of PulteGroup by 4.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 72,064 shares of the construction company's stock worth $7,848,000 after purchasing an additional 3,275 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PHM. Wedbush restated an "outperform" rating and issued a $135.00 price target on shares of PulteGroup in a report on Tuesday, April 22nd. Evercore ISI upped their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Barclays cut their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Finally, UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Stock Down 0.9%

Shares of NYSE:PHM traded down $0.89 during trading on Friday, reaching $97.66. The stock had a trading volume of 326,225 shares, compared to its average volume of 2,006,344. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a market capitalization of $19.57 billion, a P/E ratio of 6.65, a PEG ratio of 0.29 and a beta of 1.37. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $100.06 and its 200 day simple moving average is $109.30.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.86 billion. During the same period last year, the business earned $3.10 EPS. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's payout ratio is currently 6.21%.

PulteGroup declared that its Board of Directors has approved a stock buyback plan on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.