PulteGroup (NYSE:PHM) Announces Earnings Results

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

PulteGroup Price Performance

Shares of NYSE:PHM traded up $2.68 on Thursday, reaching $135.84. 2,020,546 shares of the company traded hands, compared to its average volume of 1,838,322. The stock has a market capitalization of $28.19 billion, a PE ratio of 10.02, a P/E/G ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.76. The company’s 50 day moving average is $136.67 and its 200-day moving average is $122.95. PulteGroup has a fifty-two week low of $70.21 and a fifty-two week high of $149.47.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. PulteGroup’s dividend payout ratio is currently 5.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PHM. Citigroup dropped their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI reduced their price objective on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders have sold 119,000 shares of company stock worth $15,814,039 in the last three months. 0.83% of the stock is currently owned by insiders.

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.