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Aug. 4, 2021, 1:46 p.m. EDT

NVR sets $500 million stock buyback program

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By Tomi Kilgore

NVR Inc. /zigman2/quotes/209548385/composite NVR +0.93% said Wednesday that its board of directors has authorized the repurchase of $500 million worth of stock. The home builder's stock slipped 0.2% to $5,286.99 in recent afternoon trading. Based on current prices, the buyback program could represent 2.65% of the shares outstanding. In the second quarter, the company bought back about $376.9 million worth of stock, after repurchasing about $377.4 million worth of shares in the first quarter. The stock has rallied 29.6% year to date, while the iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB +0.20% has climbed 28.9% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.91% has gained 17.4%.

/zigman2/quotes/209548385/composite
US : U.S.: NYSE
$ 5,070.74
+46.74 +0.93%
Volume: 42,691
Sept. 17, 2021 4:07p
P/E Ratio
17.63
Dividend Yield
N/A
Market Cap
$18.15 billion
Rev. per Employee
$1.21M
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/zigman2/quotes/203468436/composite
US : U.S.: Cboe BZX
$ 70.54
+0.14 +0.20%
Volume: 2.08M
Sept. 17, 2021 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,432.99
-40.76 -0.91%
Volume: 3.79B
Sept. 17, 2021 5:25p
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