NVR (NYSE:NVR) to Buyback $750.00 million in Shares

NVR (NYSE:NVR) announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th, RTT News reports. The company plans to repurchase $750.00 million in outstanding 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on NVR from $9,245.00 to $8,570.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. UBS Group dropped their target price on NVR from $8,900.00 to $7,900.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, NVR currently has a consensus rating of “Hold” and an average target price of $9,023.33.

NVR Trading Up 2.2 %

Shares of NYSE NVR opened at $7,248.96 on Friday. The firm has a 50 day moving average price of $7,184.89 and a two-hundred day moving average price of $7,976.00. The stock has a market cap of $21.52 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. NVR has a 52-week low of $6,562.85 and a 52-week high of $9,964.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.69 and a current ratio of 6.18.

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 the consensus estimate of $107.87 by ($13.04). NVR had a return on equity of 39.67% and a net margin of 16.34%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.35 billion. As a group, equities analysts forecast that NVR will post 505.2 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas D. Eckert sold 143 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 1,050 shares in the company, valued at approximately $7,891,380. The trade was a 11.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.00% of the stock is owned by 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.