Traders Buy Large Volume of Put Options on PulteGroup (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) was the recipient of unusually large options trading on Tuesday. Stock investors bought 29,638 put options on the company. This represents an increase of approximately 1,131% compared to the average volume of 2,408 put options.

In other news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of PulteGroup by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 10,506,625 shares of the construction company’s stock valued at $257,712,000 after buying an additional 83,336 shares during the period. Virtu KCG Holdings LLC raised its stake in shares of PulteGroup by 199.0% in the second quarter. Virtu KCG Holdings LLC now owns 111,434 shares of the construction company’s stock valued at $2,733,000 after buying an additional 74,163 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of PulteGroup by 30.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 516,820 shares of the construction company’s stock valued at $12,678,000 after buying an additional 120,000 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of PulteGroup by 146.9% in the second quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock valued at $38,419,000 after buying an additional 931,971 shares during the period. Finally, Globeflex Capital L P purchased a new stake in shares of PulteGroup during the second quarter valued at approximately $922,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup (NYSE PHM) opened at 24.84 on Friday. The firm’s 50 day moving average price is $24.61 and its 200-day moving average price is $23.26. The firm has a market cap of $7.49 billion, a PE ratio of 13.75 and a beta of 1.14. PulteGroup has a one year low of $17.69 and a one year high of $25.74.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 EPS. Equities analysts predict that PulteGroup will post $2.09 EPS for the current fiscal year.

A number of research firms recently weighed in on PHM. Bank of America Corporation reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. Credit Suisse Group began coverage on PulteGroup in a report on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price target for the company. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Wedbush raised PulteGroup from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $15.00 to $22.00 in a report on Thursday, July 13th. Finally, Barclays PLC cut PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a report on Tuesday, July 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.08.

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PulteGroup Company Profile

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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