PulteGroup (NYSE:PHM) Issues Quarterly Earnings Results

PulteGroup (NYSE:PHM) posted its quarterly earnings results on Tuesday. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25, Briefing.com reports. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. PulteGroup’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 earnings per share.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $133.78 on Wednesday. The firm has a fifty day moving average price of $136.45 and a two-hundred day moving average price of $122.87. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $27.76 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.62.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 6.10%.

Insider Activity

In related news, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated 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 sale, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at $12,043,420.09. This trade represents 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 through this hyperlink. In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’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 value of $9,573,873.81. Following the completion of the sale, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 45,230 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 119,000 shares of company stock valued at $15,814,039. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of recent research reports. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Evercore ISI boosted their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday. Citigroup reduced their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, Raymond James increased their target price on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $142.14.

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.