Public Event Detail
NVR authorizes $750 million stock buyback program
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Event summary
NVR, Inc. has announced that its Board of Directors authorized a new stock repurchase program of up to $750 million of its outstanding common stock, continuing a program that began in 1994. The company, which operates in homebuilding and mortgage banking, is trading near its 52-week low. This authorization comes amidst recent news including the re-election of directors, lowered price targets from analysts like Truist Securities and BTIG due to Q1 gross margin concerns, and a general weakening of U.S. homebuilder demand.