Sitting on a Cash Pile 9.0? Leading Homebuilder Set to Keep Growing

#cash #bullihs #homebuilder

$PHM

PulteGroup Inc. (NYSE:PHM): this homebuilder has posted 3 Quarters running of Strong Top-line growth in Y 2020, and it stands to benefit from the US housing market that is set to keep growing.

Shares closed Monday at 43.62 and have a consensus price target of 53.86.

On 3 December PHM made a Bullish cross at 43.18 and extended Monday to 43.62 causing the MACD to turn Very Bullish, I look for the stock to confirm on a break and hold above the Key resistance at 46.66 and start to run further North on light resistance thru 49.48 to my target price at 70+/share into the Spring of Y 2021. The support is Strong at 43.20. PHM pays a 1.39% annual dividend.

In July I called PHM a Strong Buy and am now reiterating that call and raising the target to 70 from 65/share.

PulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States.

The company acquires and develops land primarily for residential purposes; and constructs housing on the land.

It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

As of 31 December 2019, the company controlled 158,262 lots and 64,903 lots under land option agreements.

It also arranges financing through the origination of mortgage loans primarily for homebuyers; sells the servicing rights for the originated loans; and provides title insurance policies, and examination and closing services to homebuyers.

The company was formerly known as Pulte Homes, Inc. and changed its name to PulteGroup, Inc. in March 2010.

PulteGroup, Inc. was founded in Y 1950 and is HQ’d in Atlanta, Georgia.

Have a healthy day, Keep the Faith!

#Bullish#buy#cash#growth#homebuilder#Inc.#PHM#PulteGroup#resistance#support