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

Key Points

• On a recent trading day, stock traders purchased 9,941 call options for PulteGroup, marking an increase of approximately 1,498% compared to the average daily volume.
• PulteGroup recently reported $3.03 EPS for the quarter, beating estimates, while revenue was slightly below expectations at $4.40 billion.
• Equities analysts have raised price targets for PulteGroup, with a consensus rating of "Moderate Buy" and an average target price of $137.31.

PulteGroup, Inc. (NYSE:PHM - Get Free Report) saw unusually large options trading on Wednesday. Stock traders acquired 9,941 call options on the company. This is an increase of approximately 1,498% compared to the average daily volume of 622 call options.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Citigroup increased their target price on PulteGroup from $132.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $137.31.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of PulteGroup by 14,184.0% during the first quarter. GAMMA Investing LLC now owns 312,820 shares of the construction company's stock worth $32,158,000 after buying an additional 310,630 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of PulteGroup by 14.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,916 shares of the construction company's stock worth $403,000 after buying an additional 483 shares during the period. Rhumbline Advisers boosted its position in shares of PulteGroup by 10.1% during the first quarter. Rhumbline Advisers now owns 432,341 shares of the construction company's stock worth $44,445,000 after buying an additional 39,776 shares during the period. Czech National Bank boosted its position in shares of PulteGroup by 4.6% during the first quarter. Czech National Bank now owns 46,501 shares of the construction company's stock worth $4,780,000 after buying an additional 2,035 shares during the period. Finally, American National Bank & Trust purchased a new position in shares of PulteGroup during the first quarter worth $39,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE:PHM opened at $134.63 on Thursday. PulteGroup has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $26.56 billion, a PE ratio of 10.06, a P/E/G ratio of 0.39 and a beta of 1.29. The stock has a 50 day moving average price of $128.59 and a 200 day moving average price of $111.73.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.83 earnings per share. Equities research analysts expect that PulteGroup will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 16th. PulteGroup's dividend payout ratio is presently 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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