NVR (NYSE:NVR) to Buyback $750.00 million in Outstanding Stock

NVR (NYSE:NVR) announced that its Board of Directors has approved a share repurchase program on Tuesday, May 7th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

NVR Price Performance

Shares of NVR stock traded up $95.91 during trading hours on Thursday, hitting $7,670.91. 16,588 shares of the company’s stock were exchanged, compared to its average volume of 18,960. NVR has a fifty-two week low of $5,210.49 and a fifty-two week high of $8,211.40. The firm has a market cap of $24.30 billion, a P/E ratio of 15.76, a P/E/G ratio of 3.20 and a beta of 1.13. The company has a quick ratio of 3.97, a current ratio of 6.52 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $7,750.05 and a two-hundred day moving average of $7,079.95.

NVR (NYSE:NVR) last posted its quarterly earnings data 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 net margin of 17.33% and a return on equity of 38.54%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm posted $99.89 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that NVR will post 487.53 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVR. UBS Group boosted their price target on NVR from $7,600.00 to $8,175.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. StockNews.com raised shares of NVR from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th.

Insiders Place Their Bets

In related news, Director Susan Williamson Ross sold 250 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $7,344.94, for a total value of $1,836,235.00. Following the completion of the transaction, the director now directly owns 405 shares in the company, valued at $2,974,700.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NVR news, Director Susan Williamson Ross sold 250 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $7,344.94, for a total transaction of $1,836,235.00. Following the completion of the transaction, the director now owns 405 shares of the company’s stock, valued at $2,974,700.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew B. Kelpy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $7,700.00, for a total transaction of $1,540,000.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares in the company, valued at $1,771,000. The disclosure for this sale can be found here. Insiders have sold 6,102 shares of company stock valued at $45,905,870 over the last ninety days. Company insiders own 7.00% of the company’s stock.

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.