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Always keep an eye on stock buybacks.
Most of them increase shareholder value by reducing the total number of outstanding shares, which then increases the value of a stock. Essentially, it’s a company’s way of reinvesting in itself and rewarding shareholders.
Look at Lyft (SYM: LYFT), for example
Lyft just increased its stock buyback program to $750 million.
“The company, which is expanding beyond major U.S. cities into smaller markets, said it intends to use $500 million of the authorization within the next 12 months,” added Reuters.
About $200 million will be bought back in the next three months.
Even better, “Q1 marked Lyft’s 16th consecutive quarter of double-digit year-on-year gross bookings growth,” said CEO David Risher, adding that in the last week of March, rides reached the highest weekly levels in the company’s history, making 2025 the strongest start in Lyft’s history, according to Seeking Alpha.
Plus, free cash flow more than doubled from last year to $280.7 million in the first quarter and reached nearly $1 billion for the trailing 12 months.
General Motors (SYM: GM)
The company just raised its quarterly dividend by 25% to 15 cents a share, and initiated a new $6 billion share buyback program. About $2 billion of that is expected by the second quarter.
Since 2023, the company has now announced $16 billion in stock buyback programs, which resulted in buying back more than a billion outstanding shares.
“We feel confident in our business plan, our balance sheet remains strong, and we will be agile if we need to respond to changes in public policy,” CFO Paul Jacobson said, as quoted by CNBC. “The repurchase authorization our board approved continues a commitment to our capital allocation policy.”
Dycom Industries (SYM: DY)
Dycom Industries (DY), which provides specialty contracting services, just announced a $150 million share buyback plan. Even better, shares of DY have become technically oversold at support dating back to December. It’s also over-extended on RSI, MACD and Williams’ %R. from its last traded price of $171.94, we’d like to see DY initially retest $203.
Recent earnings were also solid. EPS of $2.68 beat estimates by 37 cents. Revenue of $1.27 billion, up 11.4% year over year, beat by $50 million.
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Written by Ian Cooper