PulteGroup, Inc. (NYSE:PHM) Declares $0.20 Quarterly Dividend

PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Monday, May 6th, RTT News reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.20 per share by the construction company on Tuesday, July 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%.

PulteGroup has raised its dividend by an average of 10.8% per year over the last three years and has increased its dividend every year for the last 6 years. PulteGroup has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PulteGroup to earn $13.34 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 Stock Up 0.9 %

PulteGroup stock opened at $117.65 on Tuesday. The stock’s 50 day moving average price is $112.51 and its 200 day moving average price is $101.54. PulteGroup has a 1-year low of $65.16 and a 1-year high of $121.07. The company has a market cap of $24.75 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85.

PulteGroup announced that its board has approved a share repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Oppenheimer boosted their price target on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group boosted their target price on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.73.

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.