PulteGroup Sees Unusually Large Options Volume (NYSE:PHM)

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

Analysts Set New Price Targets

A number of analysts have commented on PHM shares. BTIG Research started coverage on shares of PulteGroup in a research note on Monday, December 1st. They issued a “neutral” rating for the company. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price target on shares of PulteGroup in a research report on Wednesday, February 4th. Citigroup lifted their price objective on PulteGroup from $128.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada boosted their price target on PulteGroup from $111.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, Truist Financial started coverage on shares of PulteGroup in a report on Wednesday. They set a “buy” rating and a $170.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

PulteGroup Trading Down 1.9%

Shares of PulteGroup stock traded down $2.55 during trading hours on Thursday, hitting $129.63. The company’s stock had a trading volume of 594,604 shares, compared to its average volume of 1,833,031. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day moving average of $130.22 and a 200 day moving average of $127.72. PulteGroup has a 12 month low of $88.07 and a 12 month high of $144.49. The company has a market capitalization of $24.93 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32.

PulteGroup Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s payout ratio is currently 9.35%.

Insider Buying and Selling at PulteGroup

In other news, COO Matthew William Koart sold 15,309 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.79, for a total value 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. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brien P. O’meara sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $135.51, for a total transaction of $542,040.00. Following the transaction, the vice president directly owned 8,601 shares in the company, valued at $1,165,521.51. The trade was a 31.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 149,952 shares of company stock worth $20,162,165. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On PulteGroup

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