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PulteGroup, Inc. Message Board

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  • davebugs davebugs Apr 28, 2011 8:05 AM Flag

    PHM=6% og all US housing

    Based on headlines and before the call I'm amazed it's called higher.

    Closed at 7.98 b/a 8.25/8.37 but time will tell.

    I've sold 2/5 of my holdings and was actually hoping for a dip to buy those shares back.

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    • Bad news was baked in. So a small pop would be predictable. If I was a trader I'd be selling at/near the open.

      Although the 770k land impairment is a big improvement. Obvious a loss bigger than 14 cents was anticipated thanks to KB Homes nasty Q1.

    • Investors are buying on future projections to profitability. If you notice, there were not the big write downs this quarter. If PHM has taken all it can, then their numbers will look great going into the future. Furthermore, the write downs they have taken in the past put their cost base down so that it will be easier to make profits on future sales.

      Look for sales to pick up as well to give profits another boost. With better housing numbers and good numbers next quarter, I am still projecting a major move in the price this summer and running into the fall.

      • 1 Reply to gf0677mf
      • Their level of inventory are $4.7 Bil, assume $4bil is land, since they have 180,000 lots that is an average of $22,000 per lot.
        This is about 10% of average sales price- usually land is 1/3- a lot of future profits are built into those low cost lots number (this after all those huge write downs which now are history)

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