Share Repurchase Program Announced by NVR (NYSE:NVR) Board of Directors

NVR (NYSE:NVR) announced that its board has approved a stock repurchase plan on Tuesday, May 7th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

NVR Stock Up 1.3 %

Shares of NVR stock traded up $95.91 during trading hours on Thursday, reaching $7,670.91. The company had a trading volume of 16,588 shares, compared to its average volume of 18,960. The stock’s fifty day simple moving average is $7,750.05 and its 200 day simple moving average is $7,079.95. The company has a market capitalization of $24.30 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 3.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.97 and a current ratio of 6.52. NVR has a twelve month low of $5,210.49 and a twelve month high of $8,211.40.

NVR (NYSE:NVR) last posted its earnings results on Tuesday, April 23rd. The construction company reported $116.41 EPS for the quarter, topping analysts’ consensus estimates of $103.97 by $12.44. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. NVR had a net margin of 17.33% and a return on equity of 38.54%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $99.89 earnings per share. As a group, sell-side analysts expect that NVR will post 487.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVR shares. StockNews.com raised NVR from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. UBS Group increased their price objective on NVR from $7,600.00 to $8,175.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th.

Insider Activity at NVR

In other NVR news, CAO Matthew B. Kelpy sold 100 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $7,615.00, for a total value of $761,500.00. Following the sale, the chief accounting officer now owns 230 shares in the company, valued at $1,751,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVR news, CAO Matthew B. Kelpy sold 150 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $7,500.00, for a total transaction of $1,125,000.00. Following the sale, the chief accounting officer now directly owns 230 shares in the company, valued at approximately $1,725,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew B. Kelpy sold 100 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $7,615.00, for a total transaction of $761,500.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $1,751,450. The disclosure for this sale can be found here. Insiders have sold a total of 6,102 shares of company stock worth $45,905,870 in the last ninety days. 7.00% of the stock is owned by insiders.

NVR Company Profile

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.