PulteGroup, Inc. (NYSE:PHM) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,424,119 shares of the construction company’s stock after acquiring an additional 129,975 shares during the quarter. Nordea Investment Management AB’s holdings in PulteGroup were worth $155,856,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PHM. FMR LLC increased its position in shares of PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PulteGroup by 5.5% in the third quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after acquiring an additional 585,735 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup in the third quarter valued at approximately $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock worth $74,917,000 after acquiring an additional 407,764 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after acquiring an additional 397,003 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $108.77 on Tuesday. The business has a 50 day moving average price of $124.17 and a 200 day moving average price of $126.99. The company has a market capitalization of $22.31 billion, a P/E ratio of 8.02, a PEG ratio of 0.48 and a beta of 1.67. PulteGroup, Inc. has a 1-year low of $100.24 and a 1-year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.81%. PulteGroup’s dividend payout ratio is currently 6.49%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. BTIG Research upped their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Evercore ISI cut their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Barclays reissued an “equal weight” rating and issued a $140.00 price objective (down from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

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.