PulteGroup Board Approves $1.5 Bln Increase To Share Repurchase Authorization

PulteGroup's board approved a $1.5 billion increase in its share repurchase authorization, lifting the total program to $2.1 billion. The action signals confidence in the company's capital position and provides additional support for shareholder returns. The news is positive for the stock but is likely to have only a modest market impact.

Analysis

PulteGroup's board approved a $1.5 billion increase in its share repurchase authorization, lifting the total program to $2.1 billion. The action signals confidence in the company's capital position and provides additional support for shareholder returns. The news is positive for the stock but is likely to have only a modest market impact.