Investors Purchase High Volume of PulteGroup Put Options (PHM)
PulteGroup, Inc. (NYSE:PHM) was the recipient of unusually large options trading on Thursday. Stock traders bought 10,426 put options on the stock. This is an increase of 737% compared to the average volume of 1,245 put options.
PulteGroup (NYSE PHM) opened at $34.44 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.25 and a current ratio of 0.25. PulteGroup has a 12-month low of $18.18 and a 12-month high of $34.60. The stock has a market capitalization of $9,977.26, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.01. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. sell-side analysts expect that PulteGroup will post 2.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%. PulteGroup’s dividend payout ratio (DPR) is presently 17.91%.
In other PulteGroup news, insider James R. Ellinghausen sold 136,912 shares of PulteGroup stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the sale, the insider now directly owns 294,369 shares in the company, valued at approximately $8,742,759.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James R. Ellinghausen sold 67,490 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PHM. Moors & Cabot Inc. lifted its holdings in shares of PulteGroup by 7.3% in the third quarter. Moors & Cabot Inc. now owns 27,543 shares of the construction company’s stock valued at $755,000 after buying an additional 1,865 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of PulteGroup in the third quarter valued at $150,000. Coldstream Capital Management Inc. acquired a new stake in shares of PulteGroup in the third quarter valued at $680,000. Neuberger Berman Group LLC lifted its holdings in shares of PulteGroup by 885.5% in the third quarter. Neuberger Berman Group LLC now owns 396,818 shares of the construction company’s stock valued at $10,845,000 after buying an additional 356,551 shares during the period. Finally, Guardian Capital LP lifted its holdings in shares of PulteGroup by 46.3% in the third quarter. Guardian Capital LP now owns 466,305 shares of the construction company’s stock valued at $12,744,000 after buying an additional 147,632 shares during the period. Institutional investors own 84.80% of the company’s stock.
A number of brokerages have recently weighed in on PHM. B. Riley reiterated a “buy” rating on shares of PulteGroup in a report on Wednesday, November 1st. BidaskClub upgraded PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Zacks Investment Research downgraded PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Barclays set a $26.00 price objective on PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Bank of America set a $34.00 price objective on PulteGroup and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.92.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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