Q3 2024 EPS Estimates for PulteGroup, Inc. (NYSE:PHM) Lifted by Analyst

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Seaport Res Ptn raised their Q3 2024 EPS estimates for shares of PulteGroup in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now expects 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.

PHM has been the topic of a number of other reports. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Raymond James raised their target price on PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Royal Bank of Canada boosted their price target on PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their price objective on PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.73.

PulteGroup Stock Performance

PulteGroup stock opened at $112.26 on Thursday. The firm has a market capitalization of $23.69 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.55 and a beta of 1.56. PulteGroup has a one year low of $64.41 and a one year high of $121.07. The stock’s 50 day moving average price is $110.90 and its 200 day moving average price is $99.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85.

PulteGroup (NYSE:PHM) last issued 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 return on equity of 25.81% and a net margin of 16.63%. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The firm’s quarterly revenue was down 15.5% on a year-over-year basis.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently modified their holdings of PHM. Putnam Investments LLC lifted its position in PulteGroup by 1.8% in the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after purchasing an additional 197,656 shares during the last quarter. Greenhaven Associates Inc. raised its holdings in shares of PulteGroup by 0.4% during the fourth quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after buying an additional 24,350 shares during the last quarter. FMR LLC boosted its position in shares of PulteGroup by 1.8% during the third quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock worth $406,125,000 after buying an additional 95,945 shares during the period. Invesco Ltd. grew its holdings in PulteGroup by 13.3% in the 3rd quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock worth $328,261,000 after buying an additional 522,032 shares in the last quarter. Finally, Norges Bank bought a new position in PulteGroup in the 4th quarter worth approximately $381,960,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the transaction, the vice president now directly 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 company insiders.

PulteGroup announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 30th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. PulteGroup’s dividend payout ratio is presently 6.41%.

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.