PulteGroup, Inc. (NYSE:PHM) Announces Quarterly Dividend of $0.20

PulteGroup, Inc. (NYSE:PHM - Get Free Report) declared a quarterly dividend on Monday, May 6th, RTT News reports. Investors of record on Tuesday, June 18th will be given a dividend of 0.20 per share by the construction company on Tuesday, July 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.68%.

PulteGroup has raised its dividend payment by an average of 10.8% annually over the last three years and has increased its dividend every year for the last 6 years. PulteGroup has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PulteGroup to earn $13.34 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 6.0%.

PulteGroup Price Performance

PHM traded up $1.01 during trading on Monday, reaching $117.65. 1,653,157 shares of the company traded hands, compared to its average volume of 1,809,873. The company has a market cap of $24.75 billion, a P/E ratio of 9.42, a PEG ratio of 0.52 and a beta of 1.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. PulteGroup has a 12-month low of $65.16 and a 12-month high of $121.07. The firm has a fifty day simple moving average of $112.51 and a 200 day simple moving average of $101.54.

PulteGroup announced that its board has approved a share repurchase program on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PHM shares. Jefferies Financial Group increased their target price on PulteGroup from $126.00 to $131.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Raymond James reaffirmed an "outperform" rating and set a $135.00 price target (up from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. StockNews.com upgraded PulteGroup from a "hold" rating to a "buy" rating in a report on Wednesday, April 24th. Citigroup upped their price objective on PulteGroup from $116.00 to $127.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. Finally, Zelman & Associates upgraded PulteGroup from a "neutral" rating to an "outperform" rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.73.

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 2,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares of the company's stock, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by corporate 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.