PulteGroup (NYSE:PHM) Issues Quarterly Earnings Results

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

PulteGroup Stock Up 0.1 %

Shares of NYSE:PHM opened at $134.00 on Wednesday. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $149.47. The firm’s 50 day moving average price is $136.45 and its 200 day moving average price is $122.87. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The stock has a market cap of $27.81 billion, a price-to-earnings 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 disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders 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 dividend yield of 0.60%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is presently 6.10%.

Insider Buying and Selling at PulteGroup

In related news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have 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

Several brokerages have weighed in on PHM. Evercore ISI increased their target price on shares of PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada increased their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Barclays lifted their target price on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Raymond James upped their price target on PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six research 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 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.