Share Repurchase Plan Initiated by NVR (NYSE:NVR) Board

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 shares. This repurchase authorization allows the construction company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVR shares. StockNews.com upgraded shares of NVR from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on shares of NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th.

NVR Stock Up 1.3 %

NYSE:NVR opened at $7,670.91 on Friday. The company has a market cap of $24.30 billion, a PE ratio of 15.99, a P/E/G ratio of 3.20 and a beta of 1.13. NVR has a twelve month low of $5,210.49 and a twelve month high of $8,211.40. The company has a current ratio of 6.52, a quick ratio of 3.97 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $7,750.96 and its two-hundred day moving average is $7,084.05.

NVR (NYSE:NVR) last released its earnings results on Tuesday, April 23rd. The construction company reported $116.41 earnings per share for the quarter, topping the consensus estimate of $103.97 by $12.44. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. NVR had a net margin of 17.33% and a return on equity of 38.54%. NVR’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $99.89 EPS. Analysts anticipate that NVR will post 487.53 EPS for the current year.

Insiders Place Their Bets

In other NVR news, Director William Grady Rosier sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $7,665.63, for a total transaction of $4,599,378.00. Following the sale, the director now owns 1,701 shares of the company’s stock, valued at approximately $13,039,236.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NVR news, Director William Grady Rosier sold 600 shares of NVR stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $7,665.63, for a total transaction of $4,599,378.00. Following the completion of the sale, the director now directly owns 1,701 shares in the company, valued at approximately $13,039,236.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew B. Kelpy sold 150 shares of NVR stock in a transaction that occurred on 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 owns 230 shares of the company’s stock, valued at $1,725,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,802 shares of company stock valued at $43,672,724. 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.