PulteGroup, Inc. (PHM) to Issue Quarterly Dividend of $0.20 on July 2nd

PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Monday, May 6th, RTT News reports. Shareholders 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 yield of 0.68%. The ex-dividend date is Tuesday, June 18th.

PulteGroup has increased its dividend by an average of 10.8% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. PulteGroup has a payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.6 %

Shares of NYSE:PHM opened at $116.95 on Wednesday. PulteGroup has a 12-month low of $65.16 and a 12-month high of $121.07. The company has a market capitalization of $24.60 billion, a PE ratio of 9.36, a PEG ratio of 0.52 and a beta of 1.56. The business has a 50 day moving average of $112.71 and a two-hundred day moving average of $101.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.

Analysts Set New Price Targets

PHM has been the subject of several research analyst reports. Citigroup upped their target price on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Oppenheimer upped their target price on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their target price on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Finally, The Goldman Sachs Group upped their target price on PulteGroup from $91.00 to $105.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup declared that its Board of Directors has authorized a stock buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.