PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Thursday, September 5th, NASDAQ reports. Stockholders of record on Wednesday, September 18th will be given a dividend of 0.11 per share by the construction company on Thursday, October 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, September 17th.
PulteGroup has increased its dividend payment by an average of 4.0% annually over the last three years. PulteGroup has a dividend payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PulteGroup to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.8%.
PulteGroup stock opened at $35.25 on Friday. The firm has a market capitalization of $9.62 billion, a P/E ratio of 9.82, a PEG ratio of 1.38 and a beta of 0.67. PulteGroup has a 1 year low of $20.64 and a 1 year high of $35.55. The business has a 50-day moving average of $32.75 and a 200-day moving average of $31.08. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54.
Several equities analysts have recently issued reports on PHM shares. SunTrust Banks started coverage on PulteGroup in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 target price for the company. Seaport Global Securities started coverage on PulteGroup in a research report on Friday, August 23rd. They set a “buy” rating and a $44.00 target price for the company. Royal Bank of Canada set a $33.00 target price on PulteGroup and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $37.50 in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.49.
In other news, Director Brian P. Anderson sold 18,766 shares of PulteGroup stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $32.28, for a total transaction of $605,766.48. Following the transaction, the director now owns 104,735 shares in the company, valued at approximately $3,380,845.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James L. Ossowski sold 5,000 shares of PulteGroup stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the transaction, the insider now owns 25,750 shares in the company, valued at approximately $875,500. The disclosure for this sale can be found here. Insiders have sold a total of 44,957 shares of company stock worth $1,475,705 in the last quarter. 0.49% of the stock is currently owned by company insiders.
PulteGroup Company Profile
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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