PulteGroup (NYSE:PHM) Announces Quarterly Earnings Results

PulteGroup (NYSE:PHM) issued its quarterly earnings results on Tuesday. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25, Briefing.com reports. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 EPS.

PulteGroup Stock Up 2.0 %

Shares of PulteGroup stock opened at $135.84 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $136.67 and a 200 day moving average price of $122.95. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. PulteGroup has a twelve month low of $70.21 and a twelve month high of $149.47.

PulteGroup Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock valued at $15,814,039 in the last ninety days. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several analyst reports. BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup lowered 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. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.00.

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.