Aug. 5 at 6:51 PM
$ROP is sending one of the strongest confidence signals a management team can make... buying back its own stock at an aggressive pace.
According to the CFO, the company repurchased roughly 3.6M shares for about
$1.2B, paying an average price near
$341 per share.
Since launching the program,
$ROP has retired nearly 9M shares, deploying approximately
$3.2B and reducing the share count by more than 8% in just eight months.
That's enough to bring outstanding shares back to 2013 levels.
When a company consistently generates cash and aggressively shrinks its share count, long-term shareholders often benefit the most.
Actions speak louder than words-and
$ROP is making a statement.
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