PulteGroup, Inc. $PHM Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in PulteGroup, Inc. by 2.8% during the second quarter, now owning approximately 0.45% of the company, valued at $94 million.
• PulteGroup recently reported earnings of $3.03 EPS for the last quarter, surpassing analysts' estimates, though quarterly revenue declined 4.3% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized dividend of $0.88 and a yield of 0.7%.

Nordea Investment Management AB grew its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 897,079 shares of the construction company's stock after purchasing an additional 24,236 shares during the quarter. Nordea Investment Management AB owned approximately 0.45% of PulteGroup worth $94,014,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Cooper Financial Group grew its position in shares of PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company's stock valued at $706,000 after buying an additional 92 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in shares of PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company's stock valued at $520,000 after buying an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of PulteGroup by 0.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company's stock valued at $1,227,000 after buying an additional 103 shares during the last quarter. Hager Investment Management Services LLC grew its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company's stock valued at $44,000 after buying an additional 105 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in shares of PulteGroup by 3.2% during the 2nd quarter. Ballentine Partners LLC now owns 3,630 shares of the construction company's stock valued at $383,000 after buying an additional 112 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

NYSE PHM opened at $124.29 on Friday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.37 and a beta of 1.29. The company has a 50-day moving average price of $130.81 and a two-hundred day moving average price of $113.69.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. PulteGroup's quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup's dividend payout ratio (DPR) is 6.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PHM. JPMorgan Chase & Co. boosted their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup boosted their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PulteGroup in a research report on Wednesday, October 8th. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Finally, Royal Bank Of Canada upped their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $136.92.

PulteGroup Profile

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.

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