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. Stockholders 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 positive change from PulteGroup’s previous quarterly dividend of $0.20.

PulteGroup has raised its dividend by an average of 10.8% annually over the last three years. PulteGroup has a payout ratio of 5.9% indicating that 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 Price Performance

Shares of PulteGroup stock traded up $2.96 during trading on Thursday, reaching $130.44. The company’s stock had a trading volume of 265,703 shares, compared to its average volume of 1,836,057. The business has a 50 day moving average price of $137.29 and a 200-day moving average price of $125.14. The company has a market capitalization of $26.75 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 12-month low of $86.59 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the business earned $2.90 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PulteGroup will post 12.94 EPS for the current year.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Finally, Barclays upped their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling

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