About the Company
Headquartered in Atlanta, Georgia, PulteGroup Inc. is an American home construction company. The company has delivered more than 700,000 homes in the United States since its inception. In 1950, the founder, Bill Pulte, built a five-room bungalow with his friends in Michigan. Six years later, he formed the company in Bloomfield Hills, Michigan. It became a public company after an initial public offering was made in 1972. PulteGroup, Inc. shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol “PHM”.
Operating in more than 40 major cities, PHM is one of the leading homebuilders in America. Its operations are segregated into two divisions: Financial Services and Home Building. The first division primarily comprises title operations and mortgage banking. PHM conducts its financial operation through its subsidiaries such as Pulte Mortgage LLC, Premier Land Title Insurance Company, PGP Title and Pulte Insurance Agency. The homebuilding segment of PulteGroup is involved in the development and acquisition of land in America, mainly for constructing buildings and residential purposes. Some of its subsidiaries that are engaged in homebuilding operations include Centex, DiVosta Homes, John Wieland Homes, Del Webb, and Pulte Homes. PHM provides an extensive range of home designs, such as townhouses, duplexes and condominiums. Since its inception, PHM has made several acquisitions. In 1998, it acquired DiVosta for approximately $150 million. In the same year, it completed the acquisition of Radnor Homes; the terms of the acquisition were not made public. Three years later, PHM purchased Del E. Webb Construction Company which was incorporated by Del Webb for approximately $1.8 billion. Two years later, it completed the acquisition of Sivage-Thomas Homes (price was undisclosed).
PulteGroup, Inc, made its largest acquisition when it completed the acquisition of Centex Corporation for an estimated $1.3 billion in stock in 2003. Moreover, the transaction included $1.8 billion in debt. In 2019, PHM acquired American West Home’s home building division for approximately $150 million. The company shifted its headquarters from Bloomfield, Michigan to Atlanta, Georgia in 2014. Two years later, Ryan Marshall was appointed as the company’s president and CEO. In 2017, PHM was a recipient of the Brandon Hall Group Bronze award for its best utilisation of the blended use learning program. In 2018, it ranked 397th in Forbes’ list of America’s Largest Public Companies. A year later, it occupied the 1104th position on Forbes’ Global 2000 list. Moreover, it ranked 309th on the list of Fortune 500 Companies in 2020.;
Organisation | PulteGroup Inc |
Industry | Residential Construction |
HeadQuarters | Atlanta, GA |