PHM - PulteGroup increases buyback program by $1B

PulteGroup (NYSE:PHM) has approved $1B increase to the existing share purchase authorization. As of December 31, 2021, the company had $458M available under its prior share repurchase authorization. Ryan Marshall, PulteGroup President and CEO said, “Coupled with our capital allocation activities, ongoing gains in our operating results helped to lower our year end debt-to-capital ratio to 21.3%. Going forward, we expect our debt-to-capital ratio to be in the range of 20% to 30%, which is down from our previous target of 30% to 40%.”

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PulteGroup increases buyback program by $1B