PulteGroup Sees Unusually Large Options Volume (NYSE:PHM)

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

PulteGroup Stock Up 0.7 %

Shares of PHM opened at $136.53 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $136.51 and a two-hundred day moving average price of $126.25. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. PulteGroup has a 12 month low of $86.59 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last posted its 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 return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the company earned $2.90 EPS. PulteGroup’s revenue was up 11.8% on a year-over-year basis. Equities analysts predict that PulteGroup will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 6.49%.

Institutional Investors Weigh In On PulteGroup

A number of hedge funds have recently made changes to their positions in PHM. Grove Bank & Trust boosted its position in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Cromwell Holdings LLC increased its holdings in PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after purchasing an additional 83 shares in the last quarter. Concord Wealth Partners raised its position in 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 purchasing an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock worth $256,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company increased their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Oppenheimer dropped their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $145.00.

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.