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

PulteGroup, Inc. (NYSE:PHM) saw some unusual options trading activity on Wednesday. Traders purchased 9,941 call options on the company. This represents an increase of 1,498% compared to the typical volume of 622 call options.

Institutional Investors Weigh In On PulteGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rachor Investment Advisory Services LLC acquired a new position in PulteGroup during the fourth quarter worth $31,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of PulteGroup during the second quarter worth about $32,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup during the second quarter worth about $35,000. Private Wealth Management Group LLC raised its position in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new position in PulteGroup in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $149.00 price objective (up previously from $140.00) on shares of PulteGroup in a research note on Friday, January 30th. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research note on Tuesday, October 21st. JPMorgan Chase & Co. reduced their price target on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen raised PulteGroup from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Finally, Royal Bank Of Canada upped their price objective on PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $140.15.

PulteGroup Stock Performance

NYSE PHM opened at $134.43 on Thursday. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.43 and a beta of 1.33. The stock has a 50-day moving average of $125.06 and a 200 day moving average of $125.21. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup has a twelve month low of $88.07 and a twelve month high of $142.11.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is currently 9.35%.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.