PulteGroup Sees Unusually High Options Volume (NYSE:PHM)

Key Points

• PulteGroup experienced an exceptional increase in options trading, with 9,941 call options acquired, representing a 1,498% rise compared to usual volumes.
• The company received various mixed ratings from analysts, with target prices ranging from $112.00 to $150.00 and a consensus rating of "Moderate Buy."
• PulteGroup recently announced a quarterly dividend of $0.22, reflecting an annualized payout of $0.88 and a yield of 0.7%.

PulteGroup, Inc. (NYSE:PHM - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 9,941 call options on the stock. This represents an increase of approximately 1,498% compared to the typical volume of 622 call options.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PHM. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Zacks Research upgraded shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Bank of America reduced their target price on shares of PulteGroup from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, October 10th. Wells Fargo & Company lifted their target price on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Citigroup lifted their target price on shares of PulteGroup from $132.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $136.92.

Hedge Funds Weigh In On PulteGroup

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in PulteGroup during the second quarter valued at approximately $404,339,000. Nuveen LLC bought a new stake in PulteGroup during the first quarter valued at approximately $213,092,000. Pacer Advisors Inc. lifted its position in PulteGroup by 2,586.8% during the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after purchasing an additional 1,123,471 shares during the last quarter. JPMorgan Chase & Co. lifted its position in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock valued at $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in PulteGroup by 219.2% during the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock valued at $106,820,000 after purchasing an additional 713,534 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

PHM stock opened at $124.73 on Thursday. The firm has a 50 day moving average of $130.70 and a 200-day moving average of $113.33. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup has a 12 month low of $88.07 and a 12 month high of $149.47. The firm has a market capitalization of $24.61 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.37 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the business earned $3.83 earnings per share. PulteGroup's revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that PulteGroup will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is 6.58%.

PulteGroup Company Profile

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.

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