PulteGroup, Inc. (PHM) to Issue Quarterly Dividend of $0.26 on October 2nd

PulteGroup, Inc. (NYSE:PHMGet Free Report) declared a quarterly dividend on Wednesday, September 2nd. Shareholders 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 yield of 0.9%. The ex-dividend date is Tuesday, September 15th.

PulteGroup has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. PulteGroup has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PulteGroup to earn $11.06 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 1.5%

NYSE:PHM opened at $118.19 on Friday. The company has a market cap of $22.15 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.47 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s fifty day moving average price is $127.20 and its two-hundred day moving average price is $124.38. PulteGroup has a 52-week low of $108.49 and a 52-week high of $144.49.

PulteGroup (NYSE:PHMGet Free Report) last released its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.03 EPS. On average, analysts anticipate that PulteGroup will post 10.07 EPS for the current year.

Institutional Investors Weigh In On PulteGroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its stake in shares of PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC grew its holdings in PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after purchasing an additional 975 shares during the period. Baird Financial Group Inc. grew its holdings in PulteGroup by 8.0% during the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock valued at $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC increased its stake in PulteGroup by 17.6% in the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 6,240 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

About PulteGroup

(Get Free Report)

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.

Further Reading

Dividend History for PulteGroup (NYSE:PHM)

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