PulteGroup Sees Unusually Large Options Volume (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) was the recipient of some unusual options trading on Wednesday. Investors purchased 9,941 call options on the company. This represents an increase of approximately 1,498% compared to the average daily volume of 622 call options.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PHM shares. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Evercore ISI lowered their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their target price on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Stock Performance

PulteGroup stock traded up $2.27 during midday trading on Thursday, hitting $129.75. 99,131 shares of the company were exchanged, compared to its average volume of 1,835,304. The business has a fifty day simple moving average of $137.29 and a two-hundred day simple moving average of $125.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $26.61 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. PulteGroup has a fifty-two week low of $86.59 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating 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 firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the firm earned $2.90 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup will post 12.94 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.20 per share. 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 (DPR) is currently 5.90%.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction that occurred on 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 transaction, the director now owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 $12,043,420.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On PulteGroup

Hedge funds have recently modified their holdings of the company. Vinva Investment Management Ltd raised its position in shares of PulteGroup by 39.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 119,467 shares of the construction company’s stock valued at $17,104,000 after buying an additional 34,082 shares during the period. Public Sector Pension Investment Board increased its position in shares of PulteGroup by 10.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,617 shares of the construction company’s stock worth $1,237,000 after purchasing an additional 800 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after buying an additional 135,391 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PulteGroup by 357.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after acquiring an additional 407,764 shares during the last quarter. Finally, BBR Partners LLC purchased a new stake in shares of PulteGroup in the 3rd quarter valued at approximately $242,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

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.