PulteGroup, Inc. Plans Quarterly Dividend of $0.26 (NYSE:PHM)

Key Points

• PulteGroup declared a quarterly dividend of $0.26 per share, payable October 2 to shareholders of record on September 15. The dividend implies $1.04 annually and an approximately 0.8% yield, with seven consecutive years of increases.
• The dividend appears well covered, with an 8.6% payout ratio and analysts expecting $11.11 in earnings per share next year, implying a projected payout ratio of 9.4%.
• PulteGroup reported quarterly EPS of $2.48, beating estimates of $2.36, while revenue reached $3.98 billion but fell 9.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $142.20.

PulteGroup, Inc. (NYSE:PHM - Get Free Report) declared a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.26 per share by the construction company on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th.

PulteGroup has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. PulteGroup has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PulteGroup to earn $11.11 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 9.4%.

PulteGroup Stock Up 0.5%

Shares of PulteGroup stock opened at $123.72 on Thursday. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.52 and a beta of 1.19. The stock's 50-day moving average is $129.23 and its 200 day moving average is $125.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup has a one year low of $108.49 and a one year high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm posted $3.03 EPS. The company's quarterly revenue was down 9.6% on a year-over-year basis. Equities research analysts anticipate that PulteGroup will post 10.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PHM. Barclays upped their price objective on shares of PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Weiss Ratings raised PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Royal Bank Of Canada raised their target price on PulteGroup from $115.00 to $116.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on PulteGroup from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Finally, Citigroup reissued a "market outperform" rating on shares of PulteGroup in a research report on Tuesday, August 18th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.20.

About PulteGroup

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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