Zacks Research Research Analysts Increase Earnings Estimates for PulteGroup, Inc. (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for shares of PulteGroup in a research report issued to clients and investors on Tuesday, May 7th. Zacks Research analyst A. Gupta now forecasts that the construction company will earn $3.14 per share for the quarter, up from their previous forecast of $2.97. The consensus estimate for PulteGroup’s current full-year earnings is $12.66 per share. Zacks Research also issued estimates for PulteGroup’s Q3 2024 earnings at $3.15 EPS, Q4 2024 earnings at $3.39 EPS, Q1 2025 earnings at $2.79 EPS, Q2 2025 earnings at $3.39 EPS, Q3 2025 earnings at $3.26 EPS and FY2025 earnings at $12.94 EPS.

Several other equities research analysts have also recently weighed in on the company. Wedbush restated a “neutral” rating and set a $85.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Raymond James restated an “outperform” rating and set a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Barclays upped their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup Trading Down 1.0 %

Shares of PHM stock opened at $115.81 on Thursday. The stock has a market capitalization of $24.36 billion, a PE ratio of 9.27, a P/E/G ratio of 0.52 and a beta of 1.56. PulteGroup has a 1-year low of $65.16 and a 1-year high of $121.07. The business has a 50-day moving average of $112.90 and a 200 day moving average of $101.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, June 18th. PulteGroup’s dividend payout ratio is currently 6.41%.

PulteGroup declared that its board has initiated a stock buyback plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Strs Ohio increased its position in PulteGroup by 1.2% during the 3rd quarter. Strs Ohio now owns 76,791 shares of the construction company’s stock valued at $5,686,000 after buying an additional 910 shares in the last quarter. Advisor Partners II LLC raised its stake in shares of PulteGroup by 1.5% in the third quarter. Advisor Partners II LLC now owns 11,998 shares of the construction company’s stock worth $888,000 after purchasing an additional 182 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of PulteGroup by 65.4% during the third quarter. Inspire Investing LLC now owns 13,394 shares of the construction company’s stock valued at $992,000 after purchasing an additional 5,295 shares in the last quarter. TD Asset Management Inc boosted its position in shares of PulteGroup by 44.1% during the third quarter. TD Asset Management Inc now owns 173,105 shares of the construction company’s stock valued at $12,818,000 after buying an additional 52,980 shares during the last quarter. Finally, ING Groep NV increased its holdings in PulteGroup by 351.6% in the 3rd quarter. ING Groep NV now owns 144,009 shares of the construction company’s stock worth $10,664,000 after buying an additional 112,122 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

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.