Mackenzie Financial Corp Sells 20,913 Shares of PulteGroup, Inc. (NYSE:PHM)

Mackenzie Financial Corp cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,795 shares of the construction company’s stock after selling 20,913 shares during the quarter. Mackenzie Financial Corp’s holdings in PulteGroup were worth $56,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blair William & Co. IL raised its holdings in PulteGroup by 1.9% during the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after acquiring an additional 516 shares during the period. Banque Cantonale Vaudoise raised its holdings in PulteGroup by 166.6% during the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock valued at $1,586,000 after acquiring an additional 8,215 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in PulteGroup by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock valued at $35,890,000 after acquiring an additional 17,369 shares during the period. Personal CFO Solutions LLC bought a new stake in PulteGroup during the fourth quarter valued at about $719,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of PulteGroup by 4.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 621,064 shares of the construction company’s stock worth $74,913,000 after purchasing an additional 28,774 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Insider Buying and Selling at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The disclosure for this sale can be found here. Insiders sold 119,000 shares of company stock worth $15,814,039 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PHM. Oppenheimer lifted their target price on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Bank of America lifted their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Evercore ISI lifted their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, BTIG Research lifted their target price on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.71.

PulteGroup Stock Up 2.3 %

Shares of NYSE:PHM opened at $143.18 on Friday. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $145.84. The business has a 50 day simple moving average of $130.55 and a two-hundred day simple moving average of $119.32. The firm has a market capitalization of $30.12 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.59 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $3.00 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

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.