PulteGroup, Inc. (PHM) To Go Ex-Dividend on September 17th

PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Wednesday, September 4th, RTT News reports. Investors of record on Tuesday, September 17th will be paid a dividend of 0.20 per share by the construction company on Wednesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, September 17th.

PulteGroup has raised its dividend payment by an average of 10.8% annually over the last three years. PulteGroup has a dividend payout ratio of 5.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect PulteGroup to earn $13.58 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 5.9%.

PulteGroup Trading Down 0.0 %

NYSE:PHM opened at $128.27 on Friday. The stock has a fifty day simple moving average of $122.41 and a 200 day simple moving average of $116.13. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62. PulteGroup has a 1-year low of $68.80 and a 1-year high of $136.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 earnings per share. Sell-side analysts forecast that PulteGroup will post 12.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PHM shares. Royal Bank of Canada lifted their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Barclays upped their price target on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Citigroup dropped their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Bank of America increased their price target on shares of PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company’s stock.

About PulteGroup

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.