Buy Back Shares vs. Make New Acquistions
Got to make up your mind.....correct me if I'm wrong, but hasn't just about every acquisition made by PHM included the issuance of a whack of new shares to the owners of the target company........?......according to tmxmoney.com, PHM currently has over 290 million shares outstanding...........now, they could focus on buying back shares with some of the cash they have on hand, OR they could make an acquisition the way they typically do (cash plus shares), but no one should be arguing that they should buy back shares while simultaneously hoping that they will announce an acquisition soon, unless they are going to make an all-cash acquisition, which would reduce their cash on hand much more significantly than what they have typically done in the past when it comes to acquiring companies.........I think it would be interesting if an analyst on the upcoming earnings conference call asked this question, as I think it would be an important piece of information for investors to consider when weighing their interest in the company going forward.....