NVR (NYSE:NVR) Authorizes Share Buyback Program

NVR (NYSE:NVR) declared that its board has authorized a stock buyback program on Tuesday, May 7th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

NVR Price Performance

Shares of NVR stock traded up $95.91 during mid-day trading on Thursday, hitting $7,670.91. The company had a trading volume of 16,588 shares, compared to its average volume of 18,960. The stock’s 50 day moving average price is $7,750.05 and its 200-day moving average price is $7,079.95. NVR has a 52-week low of $5,210.49 and a 52-week high of $8,211.40. The company has a market capitalization 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 debt-to-equity ratio of 0.21, a current ratio of 6.52 and a quick ratio of 3.97.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other NVR news, CAO Matthew B. Kelpy sold 150 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 230 shares in the company, valued at $1,725,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NVR news, CAO Matthew B. Kelpy sold 150 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 230 shares in the company, valued at $1,725,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Grady Rosier sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was 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 owns 1,701 shares of the company’s stock, valued at approximately $13,039,236.63. The disclosure for this sale can be found here. Insiders sold 6,102 shares of company stock valued at $45,905,870 in the last three months. Corporate 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.