Stock Traders Purchase Large Volume of Call Options on PulteGroup (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHMGet Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 9,941 call options on the company. This represents an increase of approximately 1,498% compared to the average volume of 622 call options.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays boosted their price target on shares of PulteGroup from $120.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group upped their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Raymond James upped their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group assumed coverage on shares of PulteGroup in a research note on Monday, November 27th. They issued a “buy” rating and a $107.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.31.

View Our Latest Report on PulteGroup

PulteGroup Trading Up 0.4 %

PHM opened at $103.01 on Thursday. PulteGroup has a twelve month low of $52.24 and a twelve month high of $110.75. The company has a 50-day simple moving average of $101.75 and a 200 day simple moving average of $87.15. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $22.21 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 0.69 and a beta of 1.56.

PulteGroup (NYSE:PHMGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the prior year, the business posted $3.63 earnings per share. PulteGroup’s revenue was down 15.5% compared to the same quarter last year. Analysts predict that PulteGroup will post 11.92 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.78%. PulteGroup’s dividend payout ratio is 6.81%.

PulteGroup declared that its Board of Directors has approved a stock buyback program on Tuesday, January 30th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the transaction, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its position in PulteGroup by 9.5% during the 1st quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock valued at $2,313,000 after purchasing an additional 4,799 shares during the period. Cetera Advisor Networks LLC purchased a new stake in shares of PulteGroup during the 1st quarter valued at $221,000. PNC Financial Services Group Inc. increased its holdings in PulteGroup by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock worth $945,000 after acquiring an additional 382 shares during the last quarter. Acadian Asset Management LLC increased its holdings in PulteGroup by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock worth $188,000 after acquiring an additional 449 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in PulteGroup by 26.7% in the 1st quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock worth $2,969,000 after purchasing an additional 14,918 shares during the period. Institutional investors and hedge funds own 89.84% of the company’s stock.

About PulteGroup

(Get Free Report)

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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