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

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

PulteGroup Stock Performance

NYSE:PHM opened at $122.07 on Friday. The company has a market cap of $25.68 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.52 and a beta of 1.61. The firm’s 50 day moving average is $116.51 and its two-hundred day moving average is $112.90. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $135.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $3.00 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts expect that PulteGroup will post 12.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PHM. Wedbush reiterated a “neutral” rating and set a $115.00 price target (up from $105.00) on shares of PulteGroup in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer lifted their price objective on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup lowered their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada boosted their price objective on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

Insider Buying and Selling

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in PulteGroup in the 4th quarter valued at about $6,111,000. Stratos Wealth Partners LTD. lifted its holdings in shares of PulteGroup by 47.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,894 shares of the construction company’s stock valued at $1,021,000 after purchasing an additional 3,163 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in PulteGroup by 0.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 93,561 shares of the construction company’s stock worth $9,662,000 after acquiring an additional 514 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PulteGroup by 60.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,294 shares of the construction company’s stock worth $10,662,000 after purchasing an additional 38,911 shares during the period. Finally, 180 Wealth Advisors LLC purchased a new position in shares of PulteGroup during the 4th quarter valued at $224,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

About PulteGroup

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.