PulteGroup: Look Past Softer Orders In Q2

Jul. 23, 2024 12:27 PM ETPulteGroup, Inc. (PHM) StockPHM
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4.62K Followers
(9min)

Summary

  • PulteGroup, Inc. has seen a strong performance in the past year, with shares rising over 55% amid a resilient housing market.
  • Despite reporting solid earnings, shares dropped 2% likely due to profit taking after a strong rally given somewhat slower orders, which may prove transitory.
  • PulteGroup's diverse business and buyer base, along with strong backlog and operating leverage, position it for profit growth and potential multiple expansion.

PulteGroup Pulte homes building corporation regional headquarters, corporate office with logo sign in Florida

krblokhin

PulteGroup, Inc. (NYSE:PHM) has been a strong performer over the past year, rising over 55%, as the housing market has proven resilient amid substantially higher interest rates. On Tuesday, Pulte reported solid earnings, but shares dropped 2% in response, likely as its strong

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