Investors Buy High Volume of Call Options on PulteGroup (NYSE:PHM)

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

Analyst Ratings Changes

A number of brokerages recently commented on PHM. Citizens Jmp began coverage on PulteGroup in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price target for the company. Zacks Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. UBS Group reaffirmed a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. Evercore raised their price target on shares of PulteGroup from $134.00 to $143.00 in a research report on Friday, January 30th. Finally, BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.71.

PulteGroup Stock Performance

Shares of PHM stock opened at $117.00 on Thursday. The company has a market cap of $22.42 billion, a P/E ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.32. The business has a 50 day moving average of $131.12 and a two-hundred day moving average of $127.24. PulteGroup has a 52 week low of $88.07 and a 52 week high of $144.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s payout ratio is currently 9.35%.

Insider Activity

In other PulteGroup news, insider Ryan Marshall sold 111,250 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $133.86, for a total value of $14,891,925.00. Following the completion of the transaction, the insider directly owned 659,392 shares of the company’s stock, valued at $88,266,213.12. This represents a 14.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin A. Henry sold 5,173 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $141.03, for a total value of $729,548.19. Following the sale, the executive vice president owned 14,673 shares of the company’s stock, valued at $2,069,333.19. This represents a 26.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,952 shares of company stock worth $20,162,165 over the last three months. 0.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC boosted its position in shares of PulteGroup by 18.3% during the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock worth $57,000 after buying an additional 75 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of PulteGroup by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after buying an additional 78 shares in the last quarter. Stephens Inc. AR raised its position in PulteGroup by 3.5% in the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock valued at $276,000 after buying an additional 80 shares during the last quarter. Apella Capital LLC lifted its stake in PulteGroup by 4.2% in the 3rd quarter. Apella Capital LLC now owns 2,163 shares of the construction company’s stock valued at $268,000 after acquiring an additional 87 shares in the last quarter. Finally, CWM LLC lifted its stake in PulteGroup by 0.6% in the 3rd quarter. CWM LLC now owns 14,308 shares of the construction company’s stock valued at $1,890,000 after acquiring an additional 92 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

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.