PulteGroup Sees Unusually Large Options Volume (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHMGet Rating) saw unusually large options trading on Wednesday. Stock investors acquired 9,941 call options on the stock. This is an increase of 1,498% compared to the average volume of 622 call options.

Shares of NYSE:PHM opened at $45.86 on Thursday. The business has a 50 day moving average price of $44.63 and a 200 day moving average price of $49.42. PulteGroup has a twelve month low of $39.61 and a twelve month high of $63.90. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 0.81 and a beta of 1.33. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.27.

PulteGroup (NYSE:PHMGet Rating) last announced its earnings results on Thursday, April 28th. The construction company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts anticipate that PulteGroup will post 10.46 EPS for the current year.

PulteGroup announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.31%. PulteGroup’s payout ratio is 7.35%.

In other PulteGroup news, VP John J. Chadwick sold 15,090 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $49.05, for a total value of $740,164.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

A number of large investors have recently made changes to their positions in PHM. Vident Investment Advisory LLC raised its holdings in PulteGroup by 49.6% in the 3rd quarter. Vident Investment Advisory LLC now owns 65,875 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 21,850 shares in the last quarter. Royal Bank of Canada raised its holdings in PulteGroup by 23.6% in the 3rd quarter. Royal Bank of Canada now owns 1,972,991 shares of the construction company’s stock valued at $90,600,000 after acquiring an additional 376,559 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in PulteGroup by 12.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 51,594 shares of the construction company’s stock valued at $2,369,000 after acquiring an additional 5,763 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in PulteGroup by 5.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 106,599 shares of the construction company’s stock valued at $6,093,000 after acquiring an additional 5,090 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in PulteGroup by 16.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 645,754 shares of the construction company’s stock valued at $29,653,000 after acquiring an additional 90,300 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

Several brokerages have weighed in on PHM. Barclays lowered PulteGroup from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $72.00 to $49.00 in a research report on Thursday, March 31st. UBS Group raised PulteGroup from a “neutral” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research report on Thursday, February 3rd. Royal Bank of Canada dropped their target price on PulteGroup from $63.00 to $56.00 in a research report on Friday, April 29th. Wedbush dropped their target price on PulteGroup from $68.00 to $57.00 in a research report on Monday. Finally, Zacks Investment Research downgraded PulteGroup from a “buy” rating to a “hold” rating and set a $45.00 price target for the company. in a research note on Tuesday, April 5th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $56.67.

PulteGroup Company Profile (Get Rating)

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.

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