Traders Purchase Large Volume of Put Options on PulteGroup (NYSE:PHM)
PulteGroup, Inc. (NYSE:PHM) was the target of unusually large options trading on Monday. Traders purchased 7,148 put options on the company. This is an increase of 967% compared to the typical volume of 670 put options.
In related news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PHM. Bank of Montreal Can boosted its stake in shares of PulteGroup by 8.7% in the first quarter. Bank of Montreal Can now owns 292,090 shares of the construction company’s stock worth $6,878,000 after buying an additional 23,403 shares during the period. P.R. Herzig & Co. Inc. acquired a new position in shares of PulteGroup during the first quarter worth $1,618,000. Gulf International Bank UK Ltd raised its position in shares of PulteGroup by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 98,405 shares of the construction company’s stock worth $2,317,000 after buying an additional 1,900 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in shares of PulteGroup during the first quarter worth $372,000. Finally, Macquarie Group Ltd. raised its position in shares of PulteGroup by 9,659.1% in the fourth quarter. Macquarie Group Ltd. now owns 341,569 shares of the construction company’s stock worth $6,278,000 after buying an additional 338,069 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of PulteGroup (NYSE PHM) opened at 24.46 on Thursday. The stock has a 50 day moving average price of $24.09 and a 200 day moving average price of $22.63. The firm has a market cap of $7.72 billion, a P/E ratio of 13.51 and a beta of 1.15. PulteGroup has a 12-month low of $17.69 and a 12-month high of $25.20.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 25th. The construction company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that PulteGroup will post $2.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.47%. PulteGroup’s dividend payout ratio is presently 19.78%.
A number of equities analysts have weighed in on PHM shares. Wedbush reaffirmed an “underperform” rating and set a $15.00 price target on shares of PulteGroup in a research report on Tuesday, May 9th. Zacks Investment Research downgraded PulteGroup from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group started coverage on PulteGroup in a research report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price target for the company. Mizuho started coverage on PulteGroup in a research report on Tuesday, May 16th. They set a “neutral” rating and a $22.00 price target for the company. Finally, BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. PulteGroup currently has a consensus rating of “Buy” and an average price target of $24.83.
COPYRIGHT VIOLATION NOTICE: “Traders Purchase Large Volume of Put Options on PulteGroup (NYSE:PHM)” was reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/07/20/traders-purchase-large-volume-of-put-options-on-pultegroup-nysephm.html.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
Receive News & Ratings for PulteGroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.