Mackenzie Financial Corp Sells 140,321 Shares of PulteGroup, Inc. (NYSE:PHM)

Mackenzie Financial Corp cut its stake in PulteGroup, Inc. (NYSE:PHM) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & 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 0.18% of PulteGroup worth $38,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Hager Investment Management Services LLC bought a new stake in shares of PulteGroup in the fourth quarter worth approximately $29,000. TD Waterhouse Canada Inc. grew its stake in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after acquiring an additional 105 shares during the period. R Squared Ltd bought a new stake in shares of PulteGroup in the fourth quarter worth approximately $39,000. Quarry LP bought a new stake in shares of PulteGroup in the fourth quarter worth approximately $43,000. Finally, Oakworth Capital Inc. grew its stake in shares of PulteGroup by 642.2% in the fourth quarter. Oakworth Capital Inc. now owns 475 shares of the construction company’s stock worth $52,000 after acquiring an additional 411 shares during the period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $98.23 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a market capitalization of $19.69 billion, a P/E ratio of 6.68, a P/E/G ratio of 0.29 and a beta of 1.37. The firm’s 50 day simple moving average is $100.55 and its two-hundred day simple moving average is $109.93.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the firm earned $3.10 earnings per share. Research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has approved a stock repurchase program on Thursday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, June 17th. PulteGroup’s dividend payout ratio (DPR) is presently 6.21%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. UBS Group cut their target price on shares of PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their target price on shares of PulteGroup from $116.00 to $109.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI boosted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their target price on shares of PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $134.69.

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.