NVR (NYSE:NVR) to Repurchase $750.00 million in Stock

by · The Markets Daily

NVR (NYSE:NVR – Get Free Report) announced that its board has authorized a share buyback plan on Wednesday, December 11th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NVR has been the subject of a number of research reports. Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. UBS Group upped their price objective on NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America reduced their target price on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd.

Read Our Latest Report on NVR

NVR Stock Performance

NYSE:NVR traded down $8.93 on Wednesday, hitting $8,848.69. The company’s stock had a trading volume of 31,323 shares, compared to its average volume of 19,412. The stock has a fifty day moving average of $9,303.09 and a two-hundred day moving average of $8,729.30. The company has a current ratio of 6.21, a quick ratio of 3.54 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $27.08 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18. NVR has a one year low of $6,500.61 and a one year high of $9,964.77.

NVR (NYSE:NVR – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share for the quarter, missing the consensus estimate of $131.00 by ($0.50). NVR had a return on equity of 38.20% and a net margin of 16.51%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the business earned $125.26 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts predict that NVR will post 494.48 earnings per share for the current year.

Insider Activity at NVR

In other NVR news, Director David A. Preiser sold 250 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the completion of the transaction, the director now directly owns 239 shares in the company, valued at $2,223,330.96. The trade was a 51.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 208 shares of the company’s stock, valued at $1,965,600. This trade represents a 65.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 775 shares of company stock worth $7,294,073. Company insiders own 7.00% of the company’s stock.

NVR Company Profile

(Get Free Report)

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.

See Also