Unusually high options trading at PulteGroup

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On Wednesday, investors at PulteGroup, Inc. (NYSE:PHM) saw strange activity in the options market. Investors invested in the stock by buying 9,941 call options. Compared to the average volume of 622 call options, this represents an increase of 1498%.

Recently, hedge funds and other institutional investors have increased or decreased their equity holdings. A new position in PulteGroup cost Private Trust Co. NA about $29,000 to acquire in the second quarter of the year. During the second quarter, Adirondack Trust Company bought a brand new position in PulteGroup for $37,000. The percentage stake in PulteGroup held by Larson Financial Group LLC increased 130.2% during the second quarter. After purchasing an additional 539 shares in the last quarter, Larson Financial Group LLC now owns 953 shares of the construction company, worth $38,000. Zions Bancorporation NA increased its stake in PulteGroup by 115.2% during the first quarter of the fiscal year. Zions Bancorporation NA now owns 1,595 shares of the construction company, with a total value of $67,000 thanks to the recent purchase of 854 additional shares during the last quarter.
Last but not least, during the second quarter, PSI Advisors LLC added an additional 18.5% shares in PulteGroup to its holdings. After buying an additional 250 shares in the last quarter, PSI Advisors LLC now owns 1,600 shares of the construction company, worth $63,000. The company’s shares are 89.34% owned by hedge funds and other types of institutional investors.
Several different research companies have expressed interest in the PHM. BTIG Research announced on Wednesday, October 26 that it had lowered its price target for PulteGroup shares from $52.00 to $50.00 in a research report released that day. Barclays lowered its target price on PulteGroup shares from $48.00 to $45.00 and gave the company an “equal weight” rating in a report released Wednesday, October 26. In a research report released Thursday, October 13, Citigroup said it raised its price target for PulteGroup shares to $51.00. Wedbush Investment Research lowered its price target on PulteGroup shares to $54.00 and called the company’s stock an “outperformer” in a research report released Wednesday, July 27. Finally, in a research report published on Tuesday, October 11 by StockNews.com, the “buy” recommendation assigned to PulteGroup was replaced by a “hold” rating. Eight investor analysts recommend buying the stock, while only six recommend staying in it. According to data from Bloomberg.com, the company is now ranked as having a consensus rating of “Moderate Buy” and its average price target is $49.21.
PHM stock began trading Thursday for $43.70. The company’s moving average over the last 50 days is $39.61 and the moving average over the last 200 days is $41.49. The current ratio, the quick ratio and the debt ratio are all equal to 0.26. The debt ratio is 0.25. The 52-week low for PulteGroup is $35.03 and the 52-week high for the company is $58.09. The company’s market cap currently sits at $9.96 billion. It has a P/E ratio of 4.43, a PEG ratio of 2.53 and a beta value of 1.28.
The latest quarterly earnings report from PulteGroup (NYSE: PHM) was released on October 25, which is a Tuesday. The construction company reported earnings per share of $2.69 for the quarter, $0.04 below the consensus expectation of $2.73 per share. Revenue for the quarter was $3.94 billion, which was lower than the $4.04 billion that experts had anticipated. PulteGroup’s net margin was 15.56% and return on equity was 30.80%. According to projections by equity research experts, PulteGroup will generate earnings of $10.15 per share in the current fiscal year.

Additionally, a quarterly dividend was announced and distributed by the company on October 4. On Thursday, September 22, a dividend payment of $0.15 was made to shareholders already of record. This translates into a dividend payout of $0.60 per year and a yield of 1.37%. This dividend was to be paid on September 21. As a result, PulteGroup’s dividend payout ratio (also known as DPR) is now 6.09%.

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