PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Wednesday, September 18th will be given a dividend of 0.11 per share by the construction company on Thursday, October 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th.
PulteGroup has increased its dividend by an average of 4.0% per year over the last three years. PulteGroup has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PulteGroup to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.8%.
PHM stock opened at $35.25 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $9.62 billion, a PE ratio of 9.82, a PEG ratio of 1.38 and a beta of 0.67. PulteGroup has a 1-year low of $20.64 and a 1-year high of $35.55. The business’s 50 day simple moving average is $32.75 and its 200 day simple moving average is $31.08.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. As a group, sell-side analysts predict that PulteGroup will post 3.42 EPS for the current fiscal year.
A number of research firms recently weighed in on PHM. Royal Bank of Canada set a $33.00 target price on PulteGroup and gave the stock a “hold” rating in a report on Monday, August 26th. SunTrust Banks initiated coverage on PulteGroup in a report on Monday, August 12th. They set a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. raised PulteGroup from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $37.50 in a report on Wednesday. Finally, Seaport Global Securities initiated coverage on PulteGroup in a report on Friday, August 23rd. They issued a “buy” rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.49.
In other PulteGroup news, Director Brian P. Anderson sold 21,191 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $33.03, for a total value of $699,938.73. Following the transaction, the director now directly owns 80,065 shares of the company’s stock, valued at approximately $2,644,546.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James L. Ossowski sold 5,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the completion of the transaction, the insider now directly owns 25,750 shares in the company, valued at $875,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,957 shares of company stock worth $1,475,705. Insiders own 0.49% of the company’s stock.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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