PulteGroup, Inc. (NYSE:PHM) announced a quarterly dividend on Wednesday, September 9th, RTT News reports. Investors of record on Monday, September 21st will be paid a dividend of 0.12 per share by the construction company on Tuesday, October 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, September 18th.
PulteGroup has increased its dividend payment by 25.0% over the last three years and has raised its dividend every year for the last 1 years. PulteGroup has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PulteGroup to earn $4.38 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 11.0%.
Shares of NYSE:PHM opened at $45.05 on Wednesday. PulteGroup has a 12-month low of $17.12 and a 12-month high of $48.00. The company has a market capitalization of $12.08 billion, a PE ratio of 10.63, a PEG ratio of 1.17 and a beta of 1.43. The business has a 50 day moving average of $45.01 and a two-hundred day moving average of $34.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.31. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the company posted $0.86 earnings per share. PulteGroup’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that PulteGroup will post 4.14 earnings per share for the current fiscal year.
In related news, CFO Robert Oshaughnessy sold 54,774 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.08, for a total transaction of $2,414,437.92. Following the completion of the transaction, the chief financial officer now directly owns 244,743 shares in the company, valued at approximately $10,788,271.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.
PHM has been the subject of several research analyst reports. Credit Suisse Group upped their target price on PulteGroup from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Citigroup increased their price objective on PulteGroup from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised PulteGroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $49.00 in a research note on Monday, July 27th. ValuEngine raised PulteGroup from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, Susquehanna Bancshares downgraded PulteGroup from a “positive” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. PulteGroup currently has an average rating of “Hold” and a consensus price target of $42.69.
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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