Wedbush Weighs in on PulteGroup’s FY2024 Earnings (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Equities research analysts at Wedbush increased their FY2024 earnings per share estimates for shares of PulteGroup in a note issued to investors on Tuesday, October 22nd. Wedbush analyst J. Mccanless now expects that the construction company will earn $13.03 per share for the year, up from their prior estimate of $12.89. Wedbush currently has a “Neutral” rating and a $115.00 target price on the stock. The consensus estimate for PulteGroup’s current full-year earnings is $12.90 per share. Wedbush also issued estimates for PulteGroup’s Q1 2025 earnings at $3.04 EPS, Q2 2025 earnings at $3.50 EPS, Q3 2025 earnings at $3.75 EPS, Q4 2025 earnings at $4.11 EPS, FY2025 earnings at $14.39 EPS and Q2 2026 earnings at $3.85 EPS.

PHM has been the topic of several other research reports. Raymond James boosted their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Evercore ISI decreased their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday. UBS Group raised their target price on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Barclays upped their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Stock Down 2.5 %

Shares of NYSE PHM opened at $132.47 on Friday. The stock has a market capitalization of $27.86 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. PulteGroup has a 52 week low of $71.20 and a 52 week high of $149.47. The firm has a 50-day moving average price of $137.14 and a 200 day moving average price of $123.16. The company has a quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $2.90 earnings per share. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.41%.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction 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 $5,931,462.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 over the last quarter. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares during the period. State Board of Administration of Florida Retirement System grew its stake 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 worth $35,890,000 after buying an additional 17,369 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position 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 acquiring an additional 28,774 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of PulteGroup by 1.1% in the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock valued at $55,993,000 after acquiring an additional 5,022 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of PulteGroup by 34.4% during the 1st quarter. Russell Investments Group Ltd. now owns 679,940 shares of the construction company’s stock valued at $81,901,000 after acquiring an additional 173,914 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company 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.