NVR (NVR) Initiates Stock Repurchase Program

NVR (NYSE:NVR) announced that its board has initiated a share repurchase plan, which permits the company to buyback $300.00 million in shares on Wednesday, February 14th, EventVestor reports. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

A number of research firms recently issued reports on NVR. Zacks Investment Research raised NVR from a “hold” rating to a “buy” rating and set a $3,218.00 price objective for the company in a research report on Tuesday. UBS Group lifted their price objective on NVR from $3,450.00 to $3,750.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zelman & Associates raised NVR from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Finally, Wells Fargo & Co reissued a “market perform” rating on shares of NVR in a research report on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NVR presently has an average rating of “Buy” and an average price target of $3,064.50.

Shares of NVR (NVR) traded down $23.41 during trading hours on Thursday, hitting $3,036.60. The company’s stock had a trading volume of 32,048 shares, compared to its average volume of 36,557. NVR has a 12 month low of $1,876.27 and a 12 month high of $3,700.00. The firm has a market capitalization of $10,759.36, a PE ratio of 23.76, a P/E/G ratio of 1.01 and a beta of 0.54. The company has a quick ratio of 1.67, a current ratio of 3.62 and a debt-to-equity ratio of 0.37.

NVR (NYSE:NVR) last announced its quarterly earnings results on Thursday, January 25th. The construction company reported $43.41 earnings per share for the quarter, missing analysts’ consensus estimates of $48.95 by ($5.54). NVR had a return on equity of 38.72% and a net margin of 8.70%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $37.80 EPS. NVR’s quarterly revenue was up 3.6% on a year-over-year basis. equities analysts forecast that NVR will post 188.66 earnings per share for the current fiscal year.

In other NVR news, Director Eddie Arthur Grier sold 400 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $2,968.07, for a total value of $1,187,228.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.30% of the stock is owned by insiders.

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NVR Company Profile

NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).

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