Pultegroup, Inc. - PHM STOCK NEWS

PulteGroup (NYSE: PHM), the third largest homebuilder in the U.S., is expanding into the Denver market and the Piedmont Triad region of North Carolina. The first community in Colorado, Sterling Ranch, will open later this year, showcasing innovative designs. In North Carolina, construction will begin this year in High Point, driven by the area's attractive living conditions. This strategic expansion aims to capture new markets and enhance PulteGroup’s operational growth, with potential future developments planned in both regions.

PulteGroup, Inc. (NYSE: PHM) will release its fourth quarter 2020 financial results before the market opens on January 28, 2021. A conference call is scheduled for the same day at 8:30 a.m. (ET), where executives will discuss the results. Investors can access a live audio webcast on the company's website and call participants can dial in using (844) 808-7141, conference ID 10150584. The call will also be archived for later access.

PulteGroup, Inc. (NYSE: PHM) announced that Bob O'Shaughnessy, the Executive Vice President and CFO, received the 2020 CFO of the Year Award from the CFO Roundtable of Atlanta. Since his appointment in 2011, O'Shaughnessy has played a crucial role in PulteGroup’s success, especially during challenging times. The CFO Roundtable recognizes CFOs for exemplary leadership and sustainable results. PulteGroup operates in 41 markets across the U.S. and offers a diverse range of homes through its various brands, aiming to build quality living spaces.

PulteGroup, Inc. (NYSE: PHM) announced a 17% increase in its quarterly cash dividend to $0.14 per common share, effective January 5, 2021, for shareholders of record on December 16, 2020. The company credits its strong operating and financial results for the decision, emphasizing a disciplined approach to business and capital allocation.

This move reflects PulteGroup's commitment to enhancing shareholder value amid ongoing operational success.

PulteGroup (NYSE: PHM) has appointed J. Phillip Holloman, former President and COO of Cintas Corporation, as an independent director of its board, effective immediately. Holloman's extensive experience, including leadership through challenging economic periods and his role in Cintas's rebranding, is expected to bring valuable insights to PulteGroup. His appointment reflects the board's commitment to diversity, inclusion, and strong corporate governance.

PulteGroup, Inc. (NYSE: PHM) reported strong third-quarter results for 2020, with a net income of $416 million ($1.54 per share), compared to $273 million ($0.99 per share) last year. Adjusted net income was $363 million ($1.34 per share), reflecting a tax benefit from energy credits. Home sale revenues rose by 7% to $2.8 billion, with net new orders increasing by 36% to 8,202 homes. The backlog reached 14,962 homes, a 29% increase, with a value of $6.6 billion. Cash reserves stood at $2.1 billion, and debt ratio improved to 30.8%.

PulteGroup (NYSE: PHM) has announced new home features tailored to the evolving needs of homebuyers post-pandemic. The focus is on enhancing healthy living, storage options, and facilitating work and leisure activities at home. Key concepts include dedicated workspaces, increased storage, outdoor living areas, and improved health measures within homes. Homebuyers have indicated a strong preference for features like enhanced WiFi and antimicrobial surfaces. Pulte aims to lead in home design innovation by integrating these consumer-inspired features across its communities nationwide.