PulteGroup (PHM) Declares $0.16 Dividend

PulteGroup said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of March 17, 2023 will receive the payment on April 4, 2023. Previously, the company paid $0.16 per share.

At the current share price of $60.27 / share, the stock's dividend yield is 1.06%. Looking back five years and taking a sample every week, the average dividend yield has been 1.30%, the lowest has been 0.90%, and the highest has been 2.71%. The standard deviation of yields is 0.23 (n=237).

The current dividend yield is 1.02 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 5.37% Downside

As of February 2, 2023, the average one-year price target for PulteGroup is $57.04. The forecasts range from a low of $46.46 to a high of $68.25. The average price target represents a decrease of 5.37% from its latest reported closing price of $60.27.

The projected annual revenue for PulteGroup is $14,216MM, a decrease of 12.40%. The projected annual EPS is $7.34, a decrease of 34.13%.

Fund Sentiment

There are 1385 funds or institutions reporting positions in PulteGroup. This is a decrease of 3 owner(s) or 0.22%.

Average portfolio weight of all funds dedicated to US:PHM is 0.2118%, an increase of 1.1836%. Total shares owned by institutions decreased in the last three months by 0.64% to 235,670K shares.

What are large shareholders doing?

Putnam Investments holds 9,181,836 shares representing 4.03% ownership of the company. In it's prior filing, the firm reported owning 9,120,954 shares, representing an increase of 0.66%. The firm increased its portfolio allocation in PHM by 1.07% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,903,286 shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 7,018,270 shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in PHM by 2.98% over the last quarter.

Harris Associates L P holds 5,950,319 shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 4,835,529 shares, representing an increase of 18.73%. The firm increased its portfolio allocation in PHM by 26.47% over the last quarter.

Alliancebernstein holds 5,711,291 shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 5,277,664 shares, representing an increase of 7.59%. The firm increased its portfolio allocation in PHM by 8.54% over the last quarter.

OAKMX - Oakmark Fund Investor Class holds 5,654,000 shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 4,600,000 shares, representing an increase of 18.64%. The firm increased its portfolio allocation in PHM by 20.84% over the last quarter.

PulteGroup Background Information
(This description is provided by the company.)

PulteGroup, Inc., based in Atlanta, Georgia, is one of America's largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry's most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup's purpose is building incredible places where people can live their dreams.

This story originally appeared on Fintel.