Seeking Alpha is eyeing the situation at PulteGroup (NYSE:PHM), surmising that other activist investors may follow Elliott Managment into the stock and ally themselves with founder Bill Pulte in his effort to oust CEO Richard Dugas before his scheduled retirement next spring. Here's what SA says:

Activist [investors] haven't really found themselves involved in home builders, in part, because there hasn't been a reason. Housing has had pent up demand for years, which was supposed to act as its own catalyst for pushing these stocks higher. And it's been a decent investment in this market so far; the S&P Home Builders Select Industry Index has outperformed the S&P 500 by 30 percentage points since inception in 2011.

But one homebuilder, PulteGroup (NYSE:PHM), has now found itself in the activist cross hairs. Paul Singer's Elliott Management has showed up, revealing a large stake, although not saying just how large.

PHM has comfirmed that Elliott informed them that the fund has a stake in the company. What's interesting is that PHM is already in a battle with founder William Pulte, who's trying to act as an activist and push CEO Richard Dugas out. Now, Dugas plans to retire sometime in 2Q 2017, but that's not soon enough for Pulte. Bill founded PHM in 1950 at just 18 years old and is disappointed at how things have turned out since the housing crisis.

So might we see a new CEO before the end of the year, especially with Bill Pulte hiring activist lawyer Olshan Wolosky to help in the fight?

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