NVR (NYSE:NVR) to Repurchase $750.00 million in Outstanding Shares

NVR (NYSE:NVR) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 11th, RTT News reports. The company plans to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVR. UBS Group reissued a “neutral” rating and issued a $8,350.00 price objective on shares of NVR in a report on Thursday, January 29th. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. BTIG Research began coverage on shares of NVR in a research report on Monday, December 1st. They set a “buy” rating and a $9,022.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NVR in a report on Thursday, January 22nd. Finally, Zelman & Associates raised NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, NVR currently has an average rating of “Moderate Buy” and an average target price of $8,329.40.

NVR Price Performance

NYSE NVR traded up $10.25 during trading hours on Wednesday, reaching $8,104.53. The company’s stock had a trading volume of 24,688 shares, compared to its average volume of 29,263. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.71 and a current ratio of 6.21. The company’s 50-day moving average is $7,559.92 and its two-hundred day moving average is $7,711.36. NVR has a fifty-two week low of $6,562.85 and a fifty-two week high of $8,618.28. The stock has a market cap of $23.02 billion, a PE ratio of 18.54, a PEG ratio of 2.60 and a beta of 1.03.

NVR (NYSE:NVR) last released its quarterly earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, topping analysts’ consensus estimates of $105.42 by $16.12. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.41 billion. NVR had a return on equity of 34.28% and a net margin of 13.27%.The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $139.93 earnings per share. Analysts forecast that NVR will post 505.2 EPS for the current year.

Insider Transactions at NVR

In related news, CAO Matthew B. Kelpy sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total value of $4,050,000.00. Following the transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This trade represents a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan Williamson Ross sold 200 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $8,091.62, for a total value of $1,618,324.00. Following the transaction, the director directly owned 386 shares in the company, valued at $3,123,365.32. This trade represents a 34.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 920 shares of company stock valued at $7,428,324. 7.00% of the stock is owned by company insiders.

About NVR

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.