PulteGroup, Inc. (NYSE:PHM) Declares Quarterly Dividend of $0.26

PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Wednesday, November 19th. Shareholders of record on Tuesday, December 16th will be paid a dividend of 0.26 per share by the construction company on Tuesday, January 6th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, December 16th. This is a 18.2% increase from PulteGroup’s previous quarterly dividend of $0.22.

PulteGroup has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 7 years. PulteGroup has a dividend payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of PHM stock traded up $1.70 during mid-day trading on Thursday, hitting $115.46. The stock had a trading volume of 122,090 shares, compared to its average volume of 2,152,300. PulteGroup has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day simple moving average is $125.22 and its 200-day simple moving average is $117.25. The firm has a market cap of $22.50 billion, a PE ratio of 8.88, a PEG ratio of 0.95 and a beta of 1.25.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the firm earned $3.35 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup will post 12.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PHM. Royal Bank Of Canada raised their target price on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Oppenheimer upped their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Citigroup boosted their price target on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Wells Fargo & Company upped their price target on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Finally, Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.67.

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.