Seaport Res Ptn Analysts Raise Earnings Estimates for PulteGroup, Inc. (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Analysts at Seaport Res Ptn raised their Q3 2024 earnings estimates for shares of PulteGroup in a research report issued to clients and investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings of $3.24 per share for the quarter, up from their previous estimate of $3.10. The consensus estimate for PulteGroup’s current full-year earnings is $11.79 per share. Seaport Res Ptn also issued estimates for PulteGroup’s FY2025 earnings at $12.48 EPS.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the business earned $3.63 earnings per share. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year.

A number of other equities analysts have also commented on the company. Jefferies Financial Group boosted their price objective on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush reissued a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a report on Wednesday, January 31st. Royal Bank of Canada boosted their target price on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $110.73.

PulteGroup Stock Down 0.4 %

NYSE PHM opened at $112.26 on Thursday. The stock’s 50 day simple moving average is $110.90 and its 200 day simple moving average is $99.05. PulteGroup has a one year low of $64.41 and a one year high of $121.07. The firm has a market cap of $23.69 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

PulteGroup declared that its board has authorized a stock repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Large investors have recently modified their holdings of the business. CWM LLC raised its holdings in PulteGroup by 33.3% during the 3rd quarter. CWM LLC now owns 10,449 shares of the construction company’s stock worth $774,000 after buying an additional 2,609 shares during the period. AE Wealth Management LLC lifted its position in PulteGroup by 25.6% in the 3rd quarter. AE Wealth Management LLC now owns 25,237 shares of the construction company’s stock valued at $1,869,000 after acquiring an additional 5,140 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in PulteGroup by 11.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 27,619 shares of the construction company’s stock worth $2,045,000 after purchasing an additional 2,750 shares during the period. Private Trust Co. NA increased its holdings in PulteGroup by 25.0% during the 3rd quarter. Private Trust Co. NA now owns 859 shares of the construction company’s stock worth $64,000 after purchasing an additional 172 shares in the last quarter. Finally, Riverwater Partners LLC acquired a new stake in shares of PulteGroup in the 3rd quarter valued at about $232,000. 89.90% of the stock is currently owned by institutional investors.

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.