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

Nordea Investment Management AB cut its stake in PulteGroup, Inc. (NYSE:PHM) by 37.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 559,806 shares of the construction company’s stock after selling 337,273 shares during the period. Nordea Investment Management AB owned about 0.29% of PulteGroup worth $73,290,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its position in shares of PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in PulteGroup during the second quarter worth approximately $32,000. Rexford Capital Inc. purchased a new stake in PulteGroup in the second quarter valued at approximately $35,000. True Wealth Design LLC lifted its stake in PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after buying an additional 248 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of PulteGroup by 1,423.1% in the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 2.1%

Shares of PHM opened at $130.80 on Thursday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $25.49 billion, a P/E ratio of 10.07, a PEG ratio of 1.08 and a beta of 1.33. The firm’s 50-day moving average is $122.38 and its two-hundred day moving average is $123.36.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the company earned $3.35 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is presently 8.01%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research reports. Citizens Jmp initiated coverage on shares of PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price target for the company. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $111.00 price objective on shares of PulteGroup in a research report on Friday, January 9th. Citigroup dropped their target price on PulteGroup from $135.00 to $128.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, BTIG Research initiated coverage on PulteGroup in a report on Monday, December 1st. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.85.

PulteGroup 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.