Q4 EPS Estimates for PulteGroup Reduced by Seaport Res Ptn

PulteGroup, Inc. (NYSE:PHM) – Investment analysts at Seaport Res Ptn decreased their Q4 2024 earnings per share (EPS) estimates for PulteGroup in a report issued on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will earn $3.17 per share 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.

Several other brokerages have also recently weighed in on PHM. Wells Fargo & Company lifted their price target on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Raymond James increased their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Oppenheimer lowered their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wolfe Research cut PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

Shares of PHM opened at $131.16 on Wednesday. The business’s 50-day moving average is $137.23 and its two-hundred day moving average is $124.47. The company has a market capitalization of $26.90 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.53 and a beta of 1.63. PulteGroup has a fifty-two week low of $80.60 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.90 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its stake in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares during the last quarter. WR Wealth Planners LLC lifted its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. Cromwell Holdings LLC increased its position in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares during the last quarter. Concord Wealth Partners raised its stake in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after acquiring an additional 87 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thomas J. Folliard sold 19,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Thomas J. Folliard sold 19,000 shares of the company’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 sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated 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 transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. PulteGroup’s payout ratio is presently 5.90%.

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.