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

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

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $103.26 on Friday. PulteGroup has a 12 month low of $52.24 and a 12 month high of $110.75. The firm has a market capitalization of $21.90 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.69 and a beta of 1.56. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $102.04 and a two-hundred day simple moving average of $87.26.

PulteGroup (NYSE:PHMGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. PulteGroup’s revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted $3.63 EPS. On average, equities analysts forecast that PulteGroup will post 11.72 earnings per share for the current fiscal year.

PulteGroup announced that its board has approved a share repurchase program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, March 14th. PulteGroup’s payout ratio is 6.81%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHM. Citigroup downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $87.00 to $113.00 in a research note on Monday, January 8th. Raymond James upped their price objective on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. cut their target price on PulteGroup from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Jefferies Financial Group assumed coverage on PulteGroup in a research report on Monday, November 27th. They set a “buy” rating and a $107.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.31.

Check Out Our Latest Report on PulteGroup

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in PulteGroup by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock valued at $1,162,667,000 after purchasing an additional 261,934 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PulteGroup by 10.8% during the second quarter. BlackRock Inc. now owns 20,885,474 shares of the construction company’s stock valued at $1,622,384,000 after buying an additional 2,030,200 shares during the last quarter. State Street Corp increased its position in shares of PulteGroup by 2.3% during the first quarter. State Street Corp now owns 10,343,160 shares of the construction company’s stock valued at $604,439,000 after acquiring an additional 228,040 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in PulteGroup by 0.4% in the 4th quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock worth $591,076,000 after acquiring an additional 24,350 shares during the last quarter. Finally, FMR LLC lifted its position in PulteGroup by 1.8% in the 3rd quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock valued at $406,125,000 after acquiring an additional 95,945 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

(Get Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.

Featured Stories

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.