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PulteGroup (PHM) to Expand in Colorado, North Carolina Markets
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PulteGroup, Inc. (PHM - Free Report) announced a strategic expansion, under which it intends to debut in the Denver market and expand in the Triad area of North Carolina. This movement will enable this homebuilder to create another avenue of growth and expand the highly profitable operating model into a major new housing market.
In sync with this expansion strategy, PulteGroup will open its first new Pulte Homes community later this year in Colorado at Sterling Ranch, a master-planned community in northern Douglas County. This community will be sold under the Pulte Homes brand, and offer innovative floor plans as well as outstanding quality, for which the company is known.
Additionally, PulteGroup is expanding footprint in North Carolina via increasing presence in the Piedmont Triad region of Greensboro, Winston-Salem and Burlington, located approximately 75 miles northwest of Raleigh. The first of several planned communities will begin construction this year in High Point.
With this latest expansion, the company will gradually have the potential to introduce first-time, move-up and active adult brands to each of these markets in the future.
Meanwhile, given improving demand conditions post pandemic-driven shutdowns, PulteGroup increased investment in land development and for the purchase of new land assets. It expects land investment for 2020 to be $2.7 billion.
Share Price Performance
Shares of PulteGroup have rallied 16.7% in the past six months compared with the industry’s 14.8% growth. The company’s price performance was mainly backed by an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing six quarters. Improving housing market prospects, prudent land investment strategy, focus on entry-level buyers and protecting liquidity, as well as judicious management of cash flows have been benefiting PulteGroup.
KB Home carries a Zacks Rank #1 and its earnings for the current year are expected to grow 63.3%.
Zacks Ranked #1 Lennar’s fiscal 2021 earnings are expected to rise 8.3%.
Zacks Ranked #2 (Buy) D.R. Horton’s fiscal 2021 earnings are likely to grow 25.1%.
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PulteGroup (PHM) to Expand in Colorado, North Carolina Markets
PulteGroup, Inc. (PHM - Free Report) announced a strategic expansion, under which it intends to debut in the Denver market and expand in the Triad area of North Carolina. This movement will enable this homebuilder to create another avenue of growth and expand the highly profitable operating model into a major new housing market.
In sync with this expansion strategy, PulteGroup will open its first new Pulte Homes community later this year in Colorado at Sterling Ranch, a master-planned community in northern Douglas County. This community will be sold under the Pulte Homes brand, and offer innovative floor plans as well as outstanding quality, for which the company is known.
Additionally, PulteGroup is expanding footprint in North Carolina via increasing presence in the Piedmont Triad region of Greensboro, Winston-Salem and Burlington, located approximately 75 miles northwest of Raleigh. The first of several planned communities will begin construction this year in High Point.
With this latest expansion, the company will gradually have the potential to introduce first-time, move-up and active adult brands to each of these markets in the future.
Meanwhile, given improving demand conditions post pandemic-driven shutdowns, PulteGroup increased investment in land development and for the purchase of new land assets. It expects land investment for 2020 to be $2.7 billion.
Share Price Performance
Shares of PulteGroup have rallied 16.7% in the past six months compared with the industry’s 14.8% growth. The company’s price performance was mainly backed by an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing six quarters. Improving housing market prospects, prudent land investment strategy, focus on entry-level buyers and protecting liquidity, as well as judicious management of cash flows have been benefiting PulteGroup.
Zacks Rank & Other Key Picks
Currently, PulteGroup carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other top-ranked stocks in the Zacks Building Products - Home Builders industry include KB Home (KBH - Free Report) , Lennar Corporation (LEN - Free Report) and D.R. Horton, Inc. (DHI - Free Report) .
KB Home carries a Zacks Rank #1 and its earnings for the current year are expected to grow 63.3%.
Zacks Ranked #1 Lennar’s fiscal 2021 earnings are expected to rise 8.3%.
Zacks Ranked #2 (Buy) D.R. Horton’s fiscal 2021 earnings are likely to grow 25.1%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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