Stock Repurchase Program Declared by NVR (NYSE:NVR) Board of Directors

NVR (NYSE:NVR) declared that its board has initiated a stock repurchase plan on Wednesday, December 11th, RTT News reports. The company plans to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually 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 several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America decreased 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 research note on Wednesday, October 23rd. UBS Group increased their target price on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Seaport Res Ptn downgraded shares of NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9,765.00.

NVR Price Performance

Shares of NVR opened at $8,594.06 on Friday. NVR has a fifty-two week low of $6,768.02 and a fifty-two week high of $9,964.77. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.18. The firm has a 50-day simple moving average of $9,250.20 and a 200-day simple moving average of $8,738.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.54 and a current ratio of 6.21.

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

Insider Activity at NVR

In other news, Director David A. Preiser sold 250 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the sale, the director now owns 239 shares of the company’s stock, valued at $2,223,330.96. The trade was a 51.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 125 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $9,507.30, for a total value of $1,188,412.50. Following the completion of the sale, the chief accounting officer now owns 230 shares in the company, valued at approximately $2,186,679. This represents a 35.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 775 shares of company stock worth $7,294,073 over the last 90 days. 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.