Investors Purchase Large Volume of Put Options on PulteGroup (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHMGet Rating) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 6,067 put options on the company. This is an increase of approximately 73% compared to the average daily volume of 3,513 put options.

Hedge Funds Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHM. Vanguard Group Inc. boosted its holdings in PulteGroup by 1.0% during the first quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock valued at $1,162,667,000 after purchasing an additional 261,934 shares in the last quarter. State Street Corp boosted its holdings in PulteGroup by 4.4% during the fourth quarter. State Street Corp now owns 13,096,326 shares of the construction company’s stock valued at $750,513,000 after purchasing an additional 547,399 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PulteGroup by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 6,510,934 shares of the construction company’s stock valued at $272,892,000 after purchasing an additional 116,075 shares in the last quarter. First Trust Advisors LP boosted its holdings in PulteGroup by 29.4% during the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares in the last quarter. Finally, Greenhaven Associates Inc. acquired a new stake in PulteGroup during the second quarter valued at approximately $168,140,000. 89.34% of the stock is currently owned by institutional investors.

PulteGroup Trading Down 1.1 %

PulteGroup stock opened at $38.91 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.47. The business’s 50-day simple moving average is $42.28 and its 200-day simple moving average is $42.76. The firm has a market capitalization of $9.01 billion, a PE ratio of 4.33, a PEG ratio of 2.07 and a beta of 1.33. PulteGroup has a 52 week low of $35.03 and a 52 week high of $58.09.

PulteGroup (NYSE:PHMGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The construction company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.15. PulteGroup had a return on equity of 29.81% and a net margin of 15.02%. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts forecast that PulteGroup will post 11.15 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.60 annualized dividend and a yield of 1.54%. PulteGroup’s dividend payout ratio is 6.67%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PHM. UBS Group reduced their price objective on PulteGroup from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. Citigroup raised their target price on PulteGroup to $51.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Barclays cut their target price on PulteGroup from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. BTIG Research cut their target price on PulteGroup from $57.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Royal Bank of Canada lowered PulteGroup from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $56.00 to $41.00 in a report on Wednesday, June 22nd. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.21.

PulteGroup Company Profile

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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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