Stock Repurchase Program Declared by NVR (NYSE:NVR) Board of Directors

NVR (NYSE:NVR) announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th, RTT News reports. The company plans to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVR. JPMorgan Chase & Co. cut their target price on NVR from $9,820.00 to $9,245.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group boosted their target price on NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. StockNews.com lowered NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America cut their target price on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9,765.00.

NVR Stock Down 2.3 %

NVR stock opened at $8,594.06 on Friday. NVR has a twelve month low of $6,768.02 and a twelve month high of $9,964.77. The stock’s fifty day simple moving average is $9,250.20 and its 200-day simple moving average is $8,738.77. The company has a current ratio of 6.21, a quick ratio of 3.54 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $26.30 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.90 and a beta of 1.18.

NVR (NYSE:NVR) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share for the quarter, missing analysts’ consensus estimates of $131.00 by ($0.50). NVR had a return on equity of 38.20% and a net margin of 16.51%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company posted $125.26 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that NVR will post 494.48 earnings per share for the current fiscal year.

Insider Transactions at NVR

In related news, Director David A. Preiser sold 250 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the transaction, the director now owns 239 shares of the company’s stock, valued at $2,223,330.96. This represents a 51.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $9,450.00, for a total value of $3,780,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 208 shares in the company, valued at $1,965,600. This trade represents a 65.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 775 shares of company stock valued at $7,294,073. 7.00% of the stock is currently owned by company insiders.

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.