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

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

Insiders Place Their Bets

In related news, VP Brien P. O’meara sold 4,000 shares of PulteGroup stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the completion of the sale, the vice president owned 8,601 shares of the company’s stock, valued at approximately $1,165,521.51. The trade was a 31.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Todd N. Sheldon sold 14,220 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $135.01, for a total transaction of $1,919,842.20. Following the sale, the executive vice president owned 69,753 shares of the company’s stock, valued at $9,417,352.53. This trade represents a 16.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 144,779 shares of company stock worth $19,432,616 in the last quarter. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup during the fourth quarter worth $31,000. Private Wealth Management Group LLC raised its holdings in shares of PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. DV Equities LLC acquired a new stake in shares of PulteGroup in the 4th quarter worth about $32,000. Lloyd Advisory Services LLC. bought a new position in PulteGroup in the 4th quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in PulteGroup during the 2nd quarter valued at about $32,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.7%

PulteGroup stock opened at $139.75 on Friday. The company has a market capitalization of $26.88 billion, a PE ratio of 12.57, a PEG ratio of 1.66 and a beta of 1.33. PulteGroup has a 12-month low of $88.07 and a 12-month high of $144.49. The firm’s fifty day moving average is $127.62 and its 200 day moving average is $126.88. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 17th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. PulteGroup’s payout ratio is presently 9.35%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $149.00 price target (up previously from $140.00) on shares of PulteGroup in a research report on Friday, January 30th. Wells Fargo & Company lifted their target price on shares of PulteGroup from $132.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Wall Street Zen raised shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. BTIG Research initiated coverage on shares of PulteGroup in a research note on Monday, December 1st. They set a “neutral” rating for the company. Finally, Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.15.

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.