Seaport Res Ptn Research Analysts Lift Earnings Estimates for PulteGroup, Inc. (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Analysts at Seaport Res Ptn increased their Q3 2024 earnings per share (EPS) estimates for PulteGroup in a research note issued on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will earn $3.24 per share for the quarter, up from their previous forecast of $3.10. The consensus estimate for PulteGroup’s current full-year earnings is $11.79 per share. Seaport Res Ptn also issued estimates for PulteGroup’s FY2025 earnings at $12.48 EPS.

PHM has been the topic of several other research reports. Royal Bank of Canada upped their price objective on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wedbush reiterated a “neutral” rating and issued a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Barclays upped their price objective on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Jefferies Financial Group upped their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Stock Performance

PHM stock opened at $111.36 on Thursday. The firm has a market cap of $23.50 billion, a PE ratio of 8.92, a P/E/G ratio of 0.55 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $111.04 and a 200-day moving average of $99.13. PulteGroup has a 12-month low of $64.41 and a 12-month high of $121.07.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. PulteGroup’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.63 earnings per share.

PulteGroup declared that its Board of Directors has initiated a share 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 repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.72%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Insider Buying and Selling

In related news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock valued at $78,030,000 after acquiring an additional 28,833 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in PulteGroup by 24.9% in the third quarter. Illinois Municipal Retirement Fund now owns 26,341 shares of the construction company’s stock valued at $1,951,000 after acquiring an additional 5,257 shares during the last quarter. American Century Companies Inc. increased its stake in PulteGroup by 65.0% in the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after acquiring an additional 88,638 shares during the last quarter. International Assets Investment Management LLC bought a new position in PulteGroup in the fourth quarter valued at $6,111,000. Finally, Louisiana State Employees Retirement System bought a new position in PulteGroup in the fourth quarter valued at $1,342,000. Institutional investors own 89.90% of the company’s stock.

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.