PulteGroup, Inc. (NYSE:PHM) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 572,994 shares of the construction company's stock after selling 70,859 shares during the quarter. Mackenzie Financial Corp owned 0.27% of PulteGroup worth $59,144,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PHM. Clear Street Markets LLC raised its position in PulteGroup by 90.9% during the 1st quarter. Clear Street Markets LLC now owns 441 shares of the construction company's stock worth $26,000 after buying an additional 210 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of PulteGroup in the 4th quarter valued at about $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of PulteGroup in the 2nd quarter valued at about $29,000. Arlington Trust Co LLC purchased a new position in shares of PulteGroup in the 3rd quarter valued at about $33,000. Finally, Baystate Wealth Management LLC increased its holdings in shares of PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company's stock valued at $36,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 0.7 %

Shares of PulteGroup stock traded down $0.71 during mid-day trading on Wednesday, hitting $106.15. 1,284,987 shares of the stock were exchanged, compared to its average volume of 1,782,813. PulteGroup, Inc. has a twelve month low of $61.00 and a twelve month high of $121.07. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.53 and a beta of 1.56. The company has a 50-day simple moving average of $110.32 and a 200 day simple moving average of $97.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The company had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same period last year, the company earned $3.63 EPS. The firm's revenue for the quarter was down 15.5% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 11.79 EPS for the current year.

PulteGroup announced that its board has initiated a stock buyback program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.75%. PulteGroup's dividend payout ratio is currently 6.81%.

Insider Buying and Selling

In related news, VP Brien P. O'meara sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares of the company's stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PHM. Wedbush reiterated a "neutral" rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. The Goldman Sachs Group increased their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. UBS Group downgraded shares of PulteGroup from a "buy" rating to a "neutral" rating and increased their price target for the company from $93.00 to $120.00 in a report on Thursday, January 4th. Royal Bank of Canada raised their target price on shares of PulteGroup from $103.00 to $106.00 and gave the company a "sector perform" rating in a report on Wednesday, January 31st. Finally, Raymond James raised their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PulteGroup has an average rating of "Moderate Buy" and an average price target of $106.47.

About PulteGroup

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.