PulteGroup, Inc (NYSE:PHM)’s Homebuilding Operations Update


Dallas, Texas 11/20/2013 (Financialstrend) – In Tuesday’s trading session, PulteGroup, Inc (NYSE:PHM) dropped by 0.38%. The shares opened at a price of $18.23, which touched the intraday high of $18.44 and headed to a close of $18.21. Approximately 6.76M shares were traded on Tuesday and an average volume of 10.14 million shares were traded over a 30 day period. The 52-week low of PulteGroup, Inc (NYSE:PHM) shares is $14.23 and its 52-week high is $24.47. The company has a market capitalization of $6.98 billion.

About the company

PulteGroup, Inc (NYSE:PHM) was formed on 17th September 1987. It is a homebuilder in the U.S. its subsidiaries are primarily engaged in the homebuilding business. The company also has mortgage-banking operations, that are primarily conducted via Pulte Mortgage LLC (Pulte Mortgage), as well as its title operations. Homebuilding, is the company’s core business. It includes the acquisition & development of land that is mainly for residential purposes in the United States & the housing construction on such land. Homebuilding offers the product line that meets the needs of home-buyers in the company’s targeted markets.

PulteGroup, Inc (NYSE:PHM) also has 1 segment for financial services operations. This principally is made up of mortgage banking & title operations. PulteGroup, Inc (NYSE:PHM)’s Financial Services section normally operates in the same geographic-markets as the Homebuilding segments. In the year that ended 31st December, 2011, PulteGroup, Inc (NYSE:PHM) originated mortgage-loans for 62%. Centex Corporation and Pulte Mortgage are 100%-owned subsidiaries of the Company.

Homebuilding Operations

Via its brands, that include Pulte Homes, Centex and Del Webb, Del Webb offers a range of home-designs, like single-family detached, town- houses, condominiums, & duplexes at various prices and those that have varying levels of options & amenities to its customer-segments, like entry-level, move-up & active adult. As of 31st December 2011, it had delivered around 600,000 homes.