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

PulteGroup, Inc. (NYSE:PHM) was the recipient of unusually large options trading on Wednesday. Traders acquired 9,941 call options on the company. This is an increase of approximately 1,498% compared to the average daily volume of 622 call options.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in PulteGroup by 115.1% in the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup in the 3rd quarter valued at $29,000. Candriam S.C.A. acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $33,000. JNBA Financial Advisors acquired a new stake in PulteGroup in the 3rd quarter worth $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted 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 during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PHM opened at $110.41 on Thursday. The stock has a 50 day moving average price of $122.83 and a 200 day moving average price of $126.84. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 52-week low of $100.24 and a 52-week high of $149.47. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $2.90 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that PulteGroup will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.80%. PulteGroup’s payout ratio is 6.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wedbush raised shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Citigroup lowered their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday. Evercore ISI reduced their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America lifted their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.86.

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.