PulteGroup, Inc. to Post Q3 2024 Earnings of $3.24 Per Share, Seaport Res Ptn Forecasts (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Seaport Res Ptn raised their Q3 2024 EPS estimates for PulteGroup in a research report issued on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings per share of $3.24 for the quarter, up from their previous estimate of $3.10. The consensus estimate for PulteGroup’s current full-year earnings is $11.96 per share. Seaport Res Ptn also issued estimates for PulteGroup’s FY2025 earnings at $12.48 EPS.

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

A number of other research firms also recently commented on PHM. Oppenheimer boosted their price target on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays boosted their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada boosted their price target on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a research note on Wednesday, January 31st. Finally, UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and boosted their price target for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Stock Up 2.1 %

PHM opened at $113.74 on Thursday. PulteGroup has a fifty-two week low of $64.70 and a fifty-two week high of $121.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. The company has a market capitalization of $23.92 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.54 and a beta of 1.56. The stock has a fifty day moving average of $111.28 and a 200-day moving average of $99.42.

Institutional Trading of PulteGroup

Several institutional investors have recently added to or reduced their stakes in PHM. Norges Bank bought a new stake in PulteGroup in the fourth quarter valued at approximately $381,960,000. Pacer Advisors Inc. boosted its holdings in PulteGroup by 54.6% in the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after acquiring an additional 1,060,466 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in PulteGroup by 63.6% in the third quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company’s stock valued at $129,354,000 after acquiring an additional 679,582 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in PulteGroup in the third quarter valued at approximately $47,762,000. Finally, Allianz Asset Management GmbH boosted its holdings in PulteGroup by 38.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after acquiring an additional 523,623 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the vice president now directly owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

PulteGroup declared that its board has initiated 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 generally a sign that the company’s board believes its shares are 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.