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

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

Insider Activity

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now owns 160,330 shares in the company, valued at $20,729,065.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,000 shares of company stock valued at $15,814,039. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in PulteGroup during the first quarter worth approximately $26,000. WR Wealth Planners LLC grew its holdings in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PulteGroup during the first quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of PulteGroup in the 2nd quarter valued at about $31,000. Finally, Candriam S.C.A. acquired a new stake in shares of PulteGroup in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 2.9 %

Shares of PulteGroup stock opened at $145.05 on Friday. PulteGroup has a 52-week low of $68.80 and a 52-week high of $145.84. The company has a 50 day moving average of $128.45 and a 200 day moving average of $118.28. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $30.51 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.55 and a beta of 1.62.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. As a group, research analysts forecast that PulteGroup will post 12.9 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. PulteGroup’s payout ratio is currently 6.41%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Citigroup lowered their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Friday, August 16th. Finally, Raymond James boosted their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average price target of $134.71.

About PulteGroup

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.