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RESTON, Va. - Homebuilder NVR, Inc. (NYSE:NVR), with a market capitalization of $22.57 billion, announced Friday that its Board of Directors has authorized the repurchase of up to $750 million of its outstanding common stock. According to InvestingPro, management has maintained an aggressive share buyback strategy, supported by the company’s strong balance sheet with more cash than debt.
The repurchase authorization has no expiration date, with purchases to be conducted periodically in open market and private transactions as market conditions permit.
The company stated that this authorization continues its stock repurchase program that began in 1994. The program prohibits the purchase of shares from company officers, directors, and company-managed trusts.
As of Thursday, NVR had 2,872,926 total shares of common stock outstanding.
NVR operates in homebuilding and mortgage banking segments. Its homebuilding division sells and constructs homes under the Ryan Homes, NVHomes and Heartland Homes brands across 36 metropolitan areas in 16 states and Washington, D.C.
The announcement was made in a press release issued by the company.
In other recent news, NVR reported its second-quarter 2025 financial results, prompting UBS to adjust its price target for the company. UBS lowered the price target from $7,900 to $8,150, maintaining a Neutral rating. The investment bank also revised its earnings per share estimates for NVR, reducing them to $445 for 2025, $480 for 2026, and $532 for 2027. These changes reflect expectations of softer volume and margins than previously modeled. Additionally, NVR announced the appointment of Michael J. DeVito to its Board of Directors as an independent director. DeVito brings extensive experience from his previous role as CEO of Freddie Mac and his 24-year tenure at Wells Fargo, where he held senior management positions in home lending. These developments are part of the company’s recent activities.
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