Seaport Res Ptn Lowers Earnings Estimates for PulteGroup

PulteGroup, Inc. (NYSE:PHM - Free Report) - Stock analysts at Seaport Res Ptn dropped their Q4 2024 earnings per share estimates for PulteGroup in a research report issued to clients and investors on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener now expects that the construction company will post earnings per share of $3.17 for the quarter, down from their prior forecast of $3.57. The consensus estimate for PulteGroup's current full-year earnings is $12.92 per share. Seaport Res Ptn also issued estimates for PulteGroup's FY2025 earnings at $12.60 EPS.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 EPS. PulteGroup's revenue was up 11.8% on a year-over-year basis.

Several other equities research analysts also recently issued reports on PHM. Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Evercore ISI cut their price target on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Wolfe Research cut PulteGroup from an "outperform" rating to a "peer perform" rating in a report on Wednesday, August 14th. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Oppenheimer decreased their price target on PulteGroup from $168.00 to $165.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.00.

PulteGroup Trading Down 3.1 %

Shares of PulteGroup stock traded down $4.09 on Wednesday, hitting $129.17. 3,670,186 shares of the company's stock traded hands, compared to its average volume of 1,848,776. The firm's 50-day moving average price is $137.23 and its two-hundred day moving average price is $124.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $26.49 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. PulteGroup has a one year low of $80.60 and a one year high of $149.47.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup's dividend payout ratio is 5.90%.

Insiders Place Their Bets

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now directly owns 89,323 shares of the company's stock, valued at approximately $12,043,420.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company's stock, valued at approximately $5,931,462.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On PulteGroup

Several hedge funds have recently bought and sold shares of the company. WR Wealth Planners LLC raised its holdings in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after buying an additional 82 shares in the last quarter. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. LRI Investments LLC acquired a new position in PulteGroup during the first quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in shares of PulteGroup in the third quarter worth about $29,000. Finally, Rothschild Investment LLC acquired a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $31,000. 89.90% of the stock is owned by institutional investors.

About PulteGroup

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.