PulteGroup, Inc. (NYSE:PHM) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Tuesday, December 18th will be given a dividend of 0.11 per share by the construction company on Thursday, January 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.09.
PulteGroup has raised its dividend payment by an average of 21.6% annually over the last three years. PulteGroup has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect PulteGroup to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.8%.
PulteGroup stock opened at $25.61 on Friday. The firm has a market capitalization of $7.19 billion, a PE ratio of 11.69, a PEG ratio of 0.42 and a beta of 0.91. PulteGroup has a fifty-two week low of $20.64 and a fifty-two week high of $35.21. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.64.
Several research firms have recently weighed in on PHM. Barclays set a $24.00 price target on shares of PulteGroup and gave the stock a “hold” rating in a report on Wednesday. Bank of America cut shares of PulteGroup from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a report on Monday, November 12th. Evercore ISI raised shares of PulteGroup to an “outperform” rating and decreased their price target for the stock from $29.00 to $28.00 in a report on Thursday, October 25th. They noted that the move was a valuation call. Mizuho set a $28.00 price target on shares of PulteGroup and gave the stock a “hold” rating in a report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PulteGroup from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. PulteGroup currently has a consensus rating of “Hold” and an average price target of $30.94.
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PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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