Mackenzie Financial Corp Grows Stock Position in PulteGroup, Inc. $PHM

Mackenzie Financial Corp boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 41.8% during the third quarter, Holdings Channel reports. The institutional investor owned 542,661 shares of the construction company’s stock after buying an additional 160,099 shares during the period. Mackenzie Financial Corp’s holdings in PulteGroup were worth $71,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of PulteGroup during the 2nd quarter worth about $404,339,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of PulteGroup in the third quarter worth approximately $315,883,000. AGF Management Ltd. purchased a new stake in PulteGroup in the third quarter valued at approximately $174,347,000. American Century Companies Inc. increased its position in PulteGroup by 120.4% during the third quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after purchasing an additional 930,287 shares during the last quarter. Finally, First Trust Advisors LP increased its position in PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock worth $337,462,000 after purchasing an additional 683,728 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PHM. Raymond James Financial reiterated an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a report on Wednesday, February 4th. The Goldman Sachs Group increased their target price on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Wells Fargo & Company raised their price target on shares of PulteGroup from $132.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Zacks Research cut shares of PulteGroup from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $142.71.

Insider Activity

In other news, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the sale, the vice president owned 8,601 shares in the company, valued at $1,165,521.51. This trade represents a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd N. Sheldon sold 14,220 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the transaction, the executive vice president directly owned 69,753 shares in the company, valued at approximately $9,417,352.53. The trade was a 16.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

PulteGroup Trading Down 0.8%

Shares of PHM opened at $123.34 on Thursday. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $144.49. The stock’s 50-day moving average is $131.00 and its two-hundred day moving average is $127.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $23.72 billion, a PE ratio of 11.09, a P/E/G ratio of 1.45 and a beta of 1.32.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s payout ratio is 9.35%.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.