Traders Buy Large Volume of Call Options on PulteGroup (NYSE:PHM)

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

Insider Transactions at PulteGroup

In other news, EVP Kevin A. Henry sold 5,173 shares of PulteGroup stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total transaction of $729,548.19. Following the transaction, the executive vice president directly owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This trade represents a 26.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $135.51, for a total value of $542,040.00. Following the transaction, the vice president owned 8,601 shares in the company, valued at approximately $1,165,521.51. This represents a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 149,952 shares of company stock valued at $20,162,165. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rachor Investment Advisory Services LLC bought a new stake in PulteGroup during the fourth quarter worth $31,000. Private Wealth Management Group LLC grew its position in PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. DV Equities LLC acquired a new position in PulteGroup during the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup in the fourth quarter worth about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at approximately $32,000. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PHM. The Goldman Sachs Group boosted their price objective on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. UBS Group reduced their price objective on shares of PulteGroup from $160.00 to $159.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Raymond James Financial reiterated an “outperform” rating and set a $145.00 target price on shares of PulteGroup in a report on Wednesday, February 4th. Finally, Evercore raised their price target on PulteGroup from $134.00 to $143.00 in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Stock Performance

NYSE PHM traded down $2.84 during trading on Thursday, reaching $129.34. The company’s stock had a trading volume of 481,527 shares, compared to its average volume of 1,830,813. The firm has a 50 day moving average price of $130.22 and a 200 day moving average price of $127.72. PulteGroup has a 12 month low of $88.07 and a 12 month high of $144.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, March 17th. PulteGroup’s dividend payout ratio is presently 9.35%.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.