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

PulteGroup, Inc. (NYSE:PHM) saw some unusual options trading on Wednesday. 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays decreased their target price on PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group lowered their price objective on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Oppenheimer decreased their price target on shares of PulteGroup from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, BTIG Research boosted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Institutional Trading of PulteGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in PHM. Fortitude Family Office LLC boosted its position 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 period. Transcendent Capital Group LLC purchased a new stake in PulteGroup in the third quarter valued at approximately $29,000. Hager Investment Management Services LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $29,000. R Squared Ltd purchased a new position in shares of PulteGroup during the fourth quarter worth approximately $39,000. Finally, JNBA Financial Advisors acquired a new position in shares of PulteGroup in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 0.9 %

PHM opened at $111.33 on Thursday. The business’s 50-day simple moving average is $116.64 and its 200-day simple moving average is $127.25. The company has a market cap of $22.83 billion, a P/E ratio of 7.57, a PEG ratio of 0.49 and a beta of 1.68. PulteGroup has a one year low of $100.24 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.73 and a current ratio of 0.86.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.28 by $0.22. PulteGroup had a net margin of 17.18% and a return on equity of 24.43%. As a group, equities research analysts expect that PulteGroup will post 13.34 EPS for the current fiscal year.

PulteGroup declared that its Board of Directors has initiated a stock repurchase program on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.79%. PulteGroup’s dividend payout ratio (DPR) is presently 5.98%.

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.