PulteGroup, Inc (NYSE:PHM)’s Stock Continues To Fall


Dallas, Texas 11/21/2013 (Financialstrend) – In Wednesday’s trading session, PulteGroup, Inc (NYSE:PHM) dropped by 0.49%. The opening price of the shares was $18.37, which climbed to an intraday high of $18.60 and headed to close at $18.12. Around 9.34M shares were exchanged on Wednesday while the average-volume of 10.09 million shares were traded over a 30 day period. The 52-week low of PulteGroup, Inc (NYSE:PHM) shares is $14.23 while the 52-week high is $24.47. The company has a market capitalization of $6.94 billion.

About the company

PulteGroup, Inc (NYSE:PHM) was formed on 17th September 1987. It is a homebuilder that operates in the United States. Its subsidiaries mainly involve in the homebuilding business. PulteGroup, Inc (NYSE:PHM) also has various mortgage banking operations, that are mainly conducted through Pulte Mortgage LLC & title operations. Homebuilding is the company’s core business. This includes the acquisition & development of land. This land is mainly for residential purposes and is located in the United States. The company also deals in the construction of housing on this land. Homebuilding offers a product-line that meets the needs of home-buyers in the company’s targeted markets.

PulteGroup, Inc (NYSE:PHM) also has 1 segment for the company’s financial services operations. This is mainly made up of mortgage banking & title operations. The company’s Financial Services segment generally operates in the very 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 & Pulte Mortgage are the 100%-owned subsidiaries of the Company.

Homebuilding Operations
PulteGroup, Inc (NYSE:PHM) via its brands, like Del Webb, Pulte Homes & Centex, offers a large variety of home designs. It has the single-family-detached homes, townhouses, condominiums & duplexes at varying prices & with varying-levels of options & amenities to the customer segments, like entry-level, move-up, & active adult. As of 31st December 2011, it had delivered around 600,000 homes.

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