| PulteGroup, Inc. | |
| Former Name: | Pulte Homes, Inc. |
| Type: | Public company |
| Industry: | Home construction |
| Founder: | Bill Pulte |
| Hq Location: | Atlanta, Georgia, U.S. |
| Production: | 28,894 new home deliveries |
| Revenue: | (2021) |
| Net Income: | US$1.93 billion (2021) |
| Assets: | US$13.353 billion (2021) |
| Equity: | US$7.49 billion (2021) |
| Num Employees: | 6,182 (2021) |
| Footnotes: | [1] [2] |
PulteGroup, Inc. is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed.[3] [4] In total, the company has built over 775,000 homes.[1]
The company operates in 44 markets in 23 states.[1] In 2021, it ranked 284th on the Fortune 500.[5] The company was founded by Bill Pulte in Michigan, and moved its headquarters to Atlanta in 2014. Since 2016, Ryan Marshall has been the president and CEO of the company.[6]
In 1950, at the age of 18 years, Bill Pulte, began building and selling houses.[7] In 1956, he formed the company, Pulte Homes, Inc which was based in Bloomfield Hills, Michigan.[7] [1] In 1972, the company became a public company via an initial public offering.[8] In 1998, the company acquired Divosta for an estimated $150 million,[9] and it also acquired Radnor Homes for an undisclosed amount.[10]
In 2001, Pulte Homes, Inc acquired Del E. Webb Construction Company, founded by Del Webb, for $1.8 billion.[11] In 2003, the company acquired Sivage-Thomas Homes.[12] In 2009, the company acquired Centex for $1.3 billion in stock.[13] [14] In August 2014, the company acquired the real-estate assets of Dominion Homes for $82 million.[15]
The company changed its name from Pulte Homes, Inc. to PulteGroup, Inc. in March 2010.[16] In 2013, PulteGroup launched Built to Honor program, which provides homes to veterans with disabilities from the Army, Marine Corps, Navy, Air Force, and Coast Guard, as well as Gold Star families in 18 U.S. states.[17]
In 2016, the company acquired some homebuilding assets of John Wieland Homes and Neighborhoods, a premier builder of luxury homes.[18] In April 2019, the company acquired the homebuilding operations of American West Homes for $150 million.[19]
In 2019, after an investigation by Florida Attorney General Ashley Moody, Pulte agreed to pay $4.7 million in restitution and make repairs to houses it sold in Florida that had cracks in stucco applied to a wood frame, stucco delamination, and improper installation of weep screed.[20] [21]
In October 2009, a class-action lawsuit was filed by Steve Berman accusing the company of artificially propping up house sales prices and contributing to the United States housing bubble. The lawsuit was dismissed by the court.[22]