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

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

PulteGroup has increased its dividend payment by an average of 10.8% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. PulteGroup has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:PHM traded up $1.01 during trading on Monday, hitting $117.65. 1,653,157 shares of the company’s stock were exchanged, compared to its average volume of 1,809,867. 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 has a 52-week low of $65.16 and a 52-week high of $121.07. The business’s 50-day simple moving average is $112.28 and its 200 day simple moving average is $101.21. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.52 and a beta of 1.56.

Wall Street Analyst Weigh In

Several research firms have commented on PHM. Jefferies Financial Group raised their price objective on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada lifted their price target on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Five 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, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup declared that its board has authorized a stock repurchase plan on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is owned by insiders.

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.