Share Repurchase Program Declared by NVR (NYSE:NVR) Board

NVR (NYSE:NVR) declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th, RTT News reports. The company plans to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVR. JPMorgan Chase & Co. reduced their target price on shares of NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. UBS Group reduced their price objective on shares of NVR from $8,900.00 to $7,900.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9,023.33.

NVR Stock Performance

Shares of NVR opened at $7,110.63 on Thursday. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. The company has a quick ratio of 3.69, a current ratio of 6.18 and a debt-to-equity ratio of 0.22. NVR has a 52-week low of $6,562.85 and a 52-week high of $9,964.77. The stock has a 50 day moving average price of $7,183.50 and a 200 day moving average price of $7,992.59.

NVR (NYSE:NVR) last announced its earnings results on Tuesday, April 22nd. The construction company reported $94.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $107.87 by ($13.04). NVR had a return on equity of 39.67% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Research analysts predict that NVR will post 505.2 EPS for the current fiscal year.

Insider Activity at NVR

In other news, Director Thomas D. Eckert sold 143 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $7,515.60, for a total value of $1,074,730.80. Following the completion of the sale, the director now owns 1,050 shares in the company, valued at approximately $7,891,380. This trade represents a 11.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.00% of the stock is currently owned by insiders.

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.