PulteGroup, Inc. (PHM) To Go Ex-Dividend on March 18th

PulteGroup, Inc. (NYSE:PHM) announced a quarterly dividend on Wednesday, February 5th, RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.22 per share by the construction company on Wednesday, April 2nd. This represents a $0.88 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, March 18th.

PulteGroup has raised its dividend by an average of 12.9% per year over the last three years. PulteGroup has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect PulteGroup to earn $13.53 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 6.5%.

PulteGroup Trading Up 1.9 %

Shares of NYSE:PHM opened at $103.04 on Friday. The company’s 50-day moving average price is $109.01 and its two-hundred day moving average price is $123.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. PulteGroup has a one year low of $100.54 and a one year high of $149.47. The stock has a market capitalization of $20.86 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.71.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. On average, equities analysts forecast that PulteGroup will post 12.32 EPS for the current fiscal year.

PulteGroup declared that its board has authorized a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at PulteGroup

In other news, EVP Todd N. Sheldon sold 15,191 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $106.50, for a total transaction of $1,617,841.50. Following the completion of the sale, the executive vice president now owns 74,758 shares of the company’s stock, valued at approximately $7,961,727. This represents a 16.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.45, for a total transaction of $266,125.00. Following the sale, the director now directly owns 56,617 shares of the company’s stock, valued at approximately $6,026,879.65. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,191 shares of company stock valued at $2,256,367. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

PHM has been the topic of several recent analyst reports. Citigroup lowered their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of PulteGroup in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

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.