PulteGroup, Inc. (NYSE:PHM) announced 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 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th.
PulteGroup has raised its dividend payment by an average of 4.0% annually over the last three years. PulteGroup has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Research 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%.
NYSE PHM opened at $35.25 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.54. PulteGroup has a twelve month low of $20.64 and a twelve month high of $35.55. The firm has a market capitalization of $9.62 billion, a PE ratio of 9.82, a P/E/G ratio of 1.38 and a beta of 0.67. The stock’s 50 day moving average is $32.75 and its 200 day moving average is $31.08.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, research analysts anticipate that PulteGroup will post 3.42 earnings per share for the current year.
Several research firms recently weighed in on PHM. JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $37.50 in a research report on Wednesday, September 11th. SunTrust Banks began coverage on PulteGroup in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada set a $33.00 price target on PulteGroup and gave the company a “hold” rating in a research report on Monday, August 26th. Finally, Seaport Global Securities began coverage on PulteGroup in a research report on Friday, August 23rd. They set a “buy” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently 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 PulteGroup stock in a transaction on Friday, July 12th. The stock was sold at an average price of $33.03, for a total transaction of $699,938.73. Following the completion of the transaction, the director now owns 80,065 shares in the company, valued at $2,644,546.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James L. Ossowski sold 5,000 shares of PulteGroup 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 transaction, the insider now owns 25,750 shares of the company’s stock, valued at approximately $875,500. The disclosure for this sale can be found here. Insiders have sold 44,957 shares of company stock valued at $1,475,705 in the last quarter. 0.49% of the stock is owned by company insiders.
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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