PulteGroup Target of Unusually High Options Trading (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) was the target of unusually large options trading on Wednesday. Stock investors purchased 9,941 call options on the company. This is an increase of approximately 1,498% compared to the typical daily volume of 622 call options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup in the third quarter valued at $29,000. Candriam S.C.A. bought a new stake in PulteGroup during the second quarter valued at $33,000. JNBA Financial Advisors acquired a new stake in PulteGroup during the 3rd quarter worth about $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after acquiring an additional 286 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PHM stock opened at $110.41 on Friday. The business’s 50-day moving average price is $122.45 and its 200-day moving average price is $126.72. PulteGroup has a 12 month low of $100.24 and a 12 month high of $149.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.48 and a beta of 1.67.

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 net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the company earned $2.90 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that PulteGroup will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 6.49%.

Analysts Set New Price Targets

A number of brokerages recently commented on PHM. Citigroup decreased their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays reissued an “equal weight” rating and issued a $140.00 target price (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Wells Fargo & Company dropped their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, 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 report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.86.

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.