PulteGroup Sees Unusually Large Options Volume (NYSE:PHM)

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

PulteGroup Stock Down 0.4%

Shares of NYSE:PHM opened at $117.18 on Thursday. The company has a 50 day moving average price of $128.41 and a two-hundred day moving average price of $125.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $22.45 billion, a PE ratio of 10.54, a PEG ratio of 1.37 and a beta of 1.33. PulteGroup has a 52 week low of $88.07 and a 52 week high of $144.49.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is 9.35%.

Analysts Set New Price Targets

Several analysts have commented on PHM shares. UBS Group reiterated a “buy” rating on shares of PulteGroup in a research report on Thursday, March 12th. Wall Street Zen upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Sunday, January 11th. Zacks Research cut PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, Oppenheimer reissued an “outperform” rating and issued a $149.00 target price (up from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

Insider Buying and Selling

In related news, COO Matthew William Koart sold 15,309 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.79, for a total transaction of $2,078,809.11. Following the completion of the sale, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 14,673 shares in the company, 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. In the last ninety days, insiders have sold 149,952 shares of company stock worth $20,162,165. 0.75% of the stock is currently owned by company insiders.

Institutional Trading of PulteGroup

Hedge funds have recently added to or reduced their stakes in the business. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup in the fourth quarter valued at about $31,000. Private Wealth Management Group LLC raised its position in shares of PulteGroup by 281.7% during the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the period. DV Equities LLC acquired a new stake in shares of PulteGroup during the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. bought a new position in shares of PulteGroup during the 4th quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of PulteGroup during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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.