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RESTON, Va. - Homebuilder NVR, Inc. (NYSE:NVR), a company currently valued at $23 billion with strong financial health indicators according to InvestingPro, announced Wednesday the appointment of George R. Oliver to its Board of Directors as an independent director, effective immediately.
Oliver previously served as Chairman and Chief Executive Officer of Johnson Controls International plc from 2016 until July 2025. Prior to that role, he was Chief Executive Officer and a Director at Tyco International Ltd. from 2012 to 2016, before its merger with Johnson Controls.
The new board member has extensive operational leadership experience, having led several business units at Tyco starting in 2006. Before joining Tyco, Oliver held various operational leadership positions at General Electric.
Currently, Oliver also serves on the board of RTX Corporation.
NVR operates in two business segments: homebuilding and mortgage banking. The company’s homebuilding division sells and builds homes under the Ryan Homes, NVHomes, and Heartland Homes brands across thirty-six metropolitan areas in sixteen states and Washington, D.C.
The announcement was made in a press release statement issued by the company. With a return on equity of 38% and strong cash flows, NVR continues to demonstrate solid operational performance despite analysts expecting some earnings pressure in the upcoming period.
In other recent news, NVR, Inc. has announced a significant development with the authorization of a $750 million share repurchase program. This initiative, approved by the company’s Board of Directors, will allow NVR to buy back its outstanding common stock through open market and private transactions, with no set expiration date. Additionally, UBS has adjusted its financial outlook for NVR, lowering the price target to $8,150 from $7,900 while maintaining a Neutral rating. The investment bank has also revised its earnings per share estimates downward for the years 2025 through 2027, citing softer-than-expected volume and margins as reasons for the adjustment.
In corporate governance news, NVR has appointed Michael J. DeVito as an independent director on its Board of Directors. DeVito brings extensive experience from his previous role as CEO of Freddie Mac and a 24-year tenure at Wells Fargo, where he held senior management positions in home lending. These developments reflect NVR’s ongoing strategic adjustments and leadership enhancements.
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