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

PulteGroup, Inc. (NYSE:PHM) – Analysts at Seaport Res Ptn raised their Q3 2024 EPS estimates for PulteGroup in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will post earnings of $3.24 per share for the quarter, up from their previous estimate 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.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James reissued an “outperform” rating and set a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a report on Thursday. The Goldman Sachs Group raised their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Finally, Oppenheimer raised their target price on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $111.73.

PulteGroup Trading Down 0.8 %

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

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

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently modified their holdings of PHM. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of PulteGroup during the first quarter worth about $26,000. Arlington Trust Co LLC purchased a new stake in shares of PulteGroup during the third quarter worth about $33,000. Baystate Wealth Management LLC increased its stake in shares of PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in PulteGroup during the third quarter worth about $36,000. Finally, Rakuten Securities Inc. acquired a new position in PulteGroup during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.83% of the stock is owned by corporate insiders.

PulteGroup Announces Dividend

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

PulteGroup declared that its board has authorized a share repurchase program on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.