PulteGroup (PHM) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

PulteGroup (NYSE:PHM) announced its quarterly earnings results on Tuesday. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.15, Briefing.com reports. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.84 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS.

PHM stock traded up $0.66 on Wednesday, reaching $30.31. The company had a trading volume of 2,866,094 shares, compared to its average volume of 4,822,063. PulteGroup has a 1 year low of $22.07 and a 1 year high of $35.21. The firm has a market cap of $8,255.92, a P/E ratio of 13.81, a PEG ratio of 0.46 and a beta of 1.04.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, March 15th. PulteGroup’s payout ratio is currently 16.44%.



Several brokerages have recently commented on PHM. Credit Suisse Group reissued an “outperform” rating and set a $38.00 price target (up previously from $32.00) on shares of PulteGroup in a research note on Monday, January 22nd. They noted that the move was a valuation call. Mizuho raised PulteGroup from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research raised PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Thursday, January 4th. UBS boosted their price target on PulteGroup from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Wedbush boosted their price target on PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.23.

PulteGroup announced that its board has initiated a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

In related news, Director Patrick J. Oleary sold 8,677 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total value of $260,570.31. Following the sale, the director now owns 90,687 shares of the company’s stock, valued at approximately $2,723,330.61. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.86% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in PulteGroup by 3.0% in the 4th quarter. BlackRock Inc. now owns 22,912,891 shares of the construction company’s stock valued at $761,852,000 after buying an additional 658,662 shares in the last quarter. Greenhaven Associates Inc. lifted its stake in shares of PulteGroup by 0.3% during the 4th quarter. Greenhaven Associates Inc. now owns 5,749,401 shares of the construction company’s stock worth $191,168,000 after purchasing an additional 14,853 shares during the period. Geode Capital Management LLC lifted its stake in shares of PulteGroup by 18.8% during the 4th quarter. Geode Capital Management LLC now owns 3,962,526 shares of the construction company’s stock worth $131,550,000 after purchasing an additional 627,590 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of PulteGroup by 26.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,562,243 shares of the construction company’s stock worth $118,444,000 after purchasing an additional 735,368 shares during the period. Finally, LSV Asset Management lifted its stake in shares of PulteGroup by 3.2% during the 4th quarter. LSV Asset Management now owns 2,517,922 shares of the construction company’s stock worth $83,720,000 after purchasing an additional 78,392 shares during the period. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

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PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

Earnings History for PulteGroup (NYSE:PHM)

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