PulteGroup, Inc. (NYSE:PHM) Declares Quarterly Dividend of $0.22

PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.22 per share by the construction company on Friday, January 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20.

PulteGroup has increased its dividend by an average of 10.8% per year over the last three years. PulteGroup has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PulteGroup to earn $13.39 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 6.0%.

PulteGroup Trading Up 2.3 %

Shares of PulteGroup stock traded up $2.96 during trading on Thursday, hitting $130.44. The stock had a trading volume of 265,703 shares, compared to its average volume of 1,836,057. PulteGroup has a 1 year low of $86.59 and a 1 year high of $149.47. The stock has a 50 day simple moving average of $137.29 and a 200 day simple moving average of $125.14. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $26.75 billion, a PE ratio of 9.40, a P/E/G ratio of 0.52 and a beta of 1.63.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, research analysts expect that PulteGroup will post 12.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BTIG Research increased their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Oppenheimer cut their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.00.

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.