Investors Buy High Volume of PulteGroup Call Options (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) was the target of unusually large options trading on Wednesday. Stock traders acquired 9,941 call options on the stock. This is an increase of 1,498% compared to the average daily volume of 622 call options.

PulteGroup Stock Up 0.1%

PHM stock opened at $117.33 on Friday. PulteGroup has a 52 week low of $88.07 and a 52 week high of $144.49. The business has a 50-day simple moving average of $128.20 and a 200 day simple moving average of $125.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $22.48 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 17th were given a $0.26 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. PulteGroup’s payout ratio is presently 9.35%.

Analysts Set New Price Targets

A number of research firms recently commented on PHM. The Goldman Sachs Group raised their price target on shares of PulteGroup from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Oppenheimer reissued an “outperform” rating and issued a $149.00 price objective (up from $140.00) on shares of PulteGroup in a report on Friday, January 30th. Citigroup increased their target price on shares of PulteGroup from $128.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Barclays set a $115.00 target price on shares of PulteGroup in a report on Monday, December 8th. Finally, Truist Financial started coverage on shares of PulteGroup in a research report on Wednesday, March 4th. They issued a “buy” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.71.

Insiders Place Their Bets

In other PulteGroup news, COO Matthew William Koart sold 15,309 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $135.79, for a total value of $2,078,809.11. Following the transaction, the chief operating officer directly owned 42,418 shares of the company’s stock, valued at $5,759,940.22. This represents a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kevin A. Henry sold 5,173 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $141.03, for a total value of $729,548.19. Following the transaction, the executive vice president owned 14,673 shares in the company, valued at $2,069,333.19. The trade was a 26.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 149,952 shares of company stock worth $20,162,165 over the last three months. 0.75% of the stock is currently owned by corporate insiders.

Institutional Trading of PulteGroup

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in PulteGroup during the fourth quarter valued at approximately $466,653,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PulteGroup by 126.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after purchasing an additional 2,392,580 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of PulteGroup in the 3rd quarter valued at $315,883,000. AGF Management Ltd. acquired a new position in shares of PulteGroup during the 3rd quarter worth $174,347,000. Finally, American Century Companies Inc. raised its holdings in shares of PulteGroup by 120.4% during the 3rd quarter. American Century Companies Inc. now owns 1,703,049 shares of the construction company’s stock worth $225,024,000 after buying an additional 930,287 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

About PulteGroup

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.