NVR (NYSE:NVR) Declares Share Repurchase Plan

NVR (NYSE:NVR) declared that its board has initiated a share buyback program on Tuesday, May 7th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

NVR Stock Performance

Shares of NVR traded up $95.91 during mid-day trading on Thursday, reaching $7,670.91. The company’s stock had a trading volume of 16,588 shares, compared to its average volume of 18,960. The company has a current ratio of 6.52, a quick ratio of 3.97 and a debt-to-equity ratio of 0.21. NVR has a 1-year low of $5,210.49 and a 1-year high of $8,211.40. The business has a 50-day simple moving average of $7,750.05 and a two-hundred day simple moving average of $7,079.95. The stock has a market cap of $24.30 billion, a P/E ratio of 15.76, a PEG ratio of 3.20 and a beta of 1.13.

NVR (NYSE:NVR) last announced its quarterly earnings results on Tuesday, April 23rd. The construction company reported $116.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $103.97 by $12.44. NVR had a return on equity of 38.54% and a net margin of 17.33%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $99.89 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that NVR will post 487.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVR has been the topic of several analyst reports. StockNews.com upgraded NVR from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. UBS Group boosted their target price on shares of NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th.

Insider Buying and Selling

In related news, Chairman Paul C. Saville sold 1,500 shares of NVR stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $7,510.05, for a total transaction of $11,265,075.00. Following the completion of the sale, the chairman now directly owns 106,860 shares of the company’s stock, valued at approximately $802,523,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Paul C. Saville sold 300 shares of NVR stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $7,443.82, for a total value of $2,233,146.00. Following the completion of the sale, the chairman now directly owns 106,860 shares in the company, valued at $795,446,605.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Paul C. Saville sold 1,500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $7,510.05, for a total value of $11,265,075.00. Following the sale, the chairman now directly owns 106,860 shares in the company, valued at approximately $802,523,943. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,102 shares of company stock valued at $45,905,870. Company insiders own 7.00% of the company’s stock.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.