PulteGroup, Inc. (NYSE:PHM) announced a quarterly dividend on Friday, December 1st, RTT News reports. Shareholders of record on Tuesday, December 12th will be paid a dividend of 0.09 per share by the construction company on Wednesday, January 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.05%.
PulteGroup has increased its dividend by an average of 53.3% annually over the last three years and has raised its dividend every year for the last 3 years. PulteGroup has a payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect PulteGroup to earn $2.75 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 13.1%.
PulteGroup (NYSE PHM) traded up $0.32 during trading on Friday, hitting $34.13. 6,814,500 shares of the company traded hands, compared to its average volume of 5,065,266. PulteGroup has a 1-year low of $18.18 and a 1-year high of $34.60. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72. The stock has a market cap of $9,771.48, a price-to-earnings ratio of 16.22, a PEG ratio of 0.97 and a beta of 1.18.
In other PulteGroup news, insider James R. Ellinghausen sold 136,912 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the sale, the insider now directly owns 294,369 shares of the company’s stock, valued at $8,742,759.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
Several equities analysts have recently commented on PHM shares. B. Riley reiterated a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. BidaskClub upgraded PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Buckingham Research cut PulteGroup from a “buy” rating to a “neutral” rating and increased their target price for the company from $31.00 to $33.00 in a research note on Sunday, November 26th. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Bank of America set a $34.00 target price on PulteGroup and gave the company a “buy” rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.92.
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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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