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{{Infobox company |
{{Infobox company |
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| name = PulteGroup, Inc. |
| name = PulteGroup, Inc. |
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Revision as of 16:50, 12 August 2019
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| Company type | Public company |
|---|---|
| NYSE: PHM S&P 500 Index component | |
| Industry | Home construction |
| Founded | 1950 |
| Founder | Bill Pulte |
| Headquarters | Atlanta, Georgia, United States |
Key people | Ryan R. Marshall, CEO & President G. Robert T. O'Shaughnessy, CFO[1] |
Production output | 23,107 new home deliveries[2] |
| Revenue |  $10.188 billion (2018)[2] |
| $1.022 billion (2018)[2] | |
| Total assets | $10.172 billion (2018)[2] |
| Total equity | 4.817 billion.[2] |
Number of employees | 4,810 [3] (2017) |
| Website | www |
PulteGroup, Inc. (previously known as Pulte Homes) is a home construction company based in Atlanta, Georgia, United States. According to Builderonline the company is the 3rd largest home construction company in the United States based on the number of homes closed.[4]
Initially founded by Bill Pulte in Michigan, the company moved its headquarters to Atlanta, Georgia in 2014.[5] Since 2016, Ryan Marshall has been president and CEO of the company.[6] The company currently operates in 44 markets in 23 states.[2]
History
In 1950, when he was 18 years old, Bill Pulte began building and selling houses.[7] In 1956, the company was formed.[1] It was based in Bloomfield Hills, Michigan.[7] In 1972, the company became a public company via an initial public offering. In 1998, PulteGroup acquired Divosta for an estimated $150 million.[8] The company also acquired Radnor Homes.[9] In 2001, the company acquired the Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion.[10] In 2003, the company acquired Sivage-Thomas Homes.[11] In 2009, Pulte Group acquired Centex for $1.3 billion in stock.[12][13] In August 2014, the company acquired the real estate assets of Dominion Homes for $82 million.[14] In January 2016, the company acquired certain assets of John Wieland Homes and Neighborhoods for $430.5 million in cash.[15] In April 2019, the company acquired the home building operations of American West Homes for an estimated $150 million.[16]
In 2016, PulteGroup won the 9th Annual Shorty Awards for Best in Real Estate (social) category.[17] The company is ranked 341st on the Fortune 500 as of 2018.[18]
PulteGroup
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Criticism
In May 2007, during a protest at a Pulte Homes construction site, an employee used a water truck owned by the company to repeatedly assault a group of workers picketing outside a home with a high pressure water hose.[19] On June 20, 2007, a video of the incident was posted on YouTube.[20]
On March 26, 2009, Building Justice,[21] a project of the International Union of Painters and the Sheet Metal Workers International Association, with support from the AFL-CIO, released the report of a survey of 872 Pulte and Del Webb home owners in Arizona, Nevada, and California in which 63% of respondents reported construction defects in their homes. The report "Poorly Built by Pulte, No Different at Del Webb: Homeowner Dissatisfaction in Arizona, Nevada and California" was published on the project's website.[22]
In February of 2010, a district court in northern California dismissed a class action lawsuit filed against various PulteGroup subsidiaries accused of carrying out lending practices which were alleged to have contributed to the 2007 housing market collapse.[23]
References
- ^ a b "PulteGroup, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b c d e f Staff. "PulteGroup Reports Fourth Quarter 2018 Financial Results". Yahoo News. Retrieved January 29, 2019.
- ^ "PulteGroup". Fortune. Retrieved 2018-12-09.
- ^ "The Top 100 2018 Builder". Builder.
- ^ Whelan, Robbie. "PulteGroup to Move Headquarters to Atlanta". Wall Street Journal. Retrieved May 30, 2013.
- ^ Krantz, Matt. "PulteGroup appoints Ryan Marshall as new CEO". USA Today. Retrieved 8 September 2016.
- ^ a b SZCZESNY, JOSEPH (February 16, 2010). "Founder of Pulte Homes resigns after 60 years". The Oakland Press.
- ^ "Pulte Expands Southeast Operations By Buying Divosta". Bloomberg News. The New York Times. July 2, 1998.
- ^ "Radnor Homes sold". American City Business Journals. May 27, 1998.
- ^ Umberger, Mary (May 2, 2001). "Pulte Homes to buy rival Del Webb for $1.8 billion". Chicago Tribune.
- ^ "Pulte buys Sivage-Thomas Homes". American City Business Journals. July 2, 2003.
- ^ "Pulte Homes and Centex Shareholders Overwhelmingly Approve Merger" (Press release). Business Wire. August 18, 2009.
- ^ Clifford, Catherine (April 8, 2009). "Pulte Homes in $3.1 billion merger". CNNMoney.
- ^ "PulteGroup Acquires Real Estate Assets Of Dominion Homes" (Press release). PRNewswire. August 25, 2014.
- ^ "PulteGroup Completes Acquisition of Certain Homebuilding Assets of John Wieland Homes and Neighborhoods" (Press release). PRNewswire. January 15, 2016.
- ^ Segall, Eli. "Las Vegas developer Larry Canarelli sells homebuilding operations". Las Vegas Review-Journal. Retrieved April 29, 2019.
- ^ "Best in Real Estate". Shorty Awards.
- ^ "PulteGroup". Fortune (magazine). Retrieved 2018-12-09.
- ^ Callner, Amy, Workers Get Soaked By Pulte Homes!, retrieved 2007-06-22
- ^ AFL-CIO. Workers Get Soaked by Pulte Homes! (YouTube video). AFLCIONow. Retrieved June 20, 2007.
- ^ Building Justice Campaign website, retrieved 2007-06-22
- ^ "Poorly Built by Pulte Homes". 2012-03-09. Archived from the original on 2012-03-09. Retrieved 2018-03-22.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ Caulfield, John. "California court dismisses class action lawsuit against Pulte Homes". Builder magazine. Retrieved February 23, 2010.
External links
- Business data for PulteGroup, Inc.: