PulteGroup, Inc. (PHM) Posts Earnings Results
PulteGroup, Inc. (NYSE:PHM) issued its quarterly earnings data on Tuesday. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02, Morningstar.com reports. PulteGroup had a net margin of 7.77% and a return on equity of 12.74%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.37 EPS. The business’s revenue was up 12.3% on a year-over-year basis.
Shares of PulteGroup (NYSE:PHM) opened at 24.42 on Tuesday. PulteGroup has a 52-week low of $17.69 and a 52-week high of $25.20. The firm has a 50-day moving average of $24.19 and a 200 day moving average of $22.75. The stock has a market capitalization of $7.70 billion, a PE ratio of 13.48 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.36 annualized dividend and a yield of 1.47%. PulteGroup’s dividend payout ratio (DPR) is 19.78%.
A number of equities analysts recently commented on PHM shares. Zacks Investment Research cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 price target (up from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Credit Suisse Group started coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price target for the company. Wedbush reaffirmed an “underperform” rating and set a $15.00 price target on shares of PulteGroup in a research note on Tuesday, April 25th. Finally, BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. PulteGroup currently has an average rating of “Buy” and an average target price of $24.73.
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In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the transaction, the director now owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.71% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the period. Quadrature Capital Ltd bought a new position in shares of PulteGroup during the fourth quarter valued at $587,000. RMB Capital Management LLC bought a new position in shares of PulteGroup during the fourth quarter valued at $349,000. Teachers Advisors LLC raised its position in shares of PulteGroup by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 2,207,971 shares of the construction company’s stock valued at $40,583,000 after buying an additional 283,598 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of PulteGroup during the fourth quarter valued at $397,000. 87.85% of the stock is owned by institutional investors.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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