filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Our shares of common stock are listed and principally traded on the New York Stock Exchange under the ticker symbol “NVR.” The following table sets forth the high and low prices per share for our common stock for each fiscal quarter during the years ended December 31, 2014 and 2013:
| HIGH | LOW | |||||||
|---|---|---|---|---|---|---|---|---|
| Prices per Share: | ||||||||
| 2014 | ||||||||
| Fourth Quarter | $ | 1,284.50 | $ | 1,050.95 | ||||
| Third Quarter | $ | 1,200.00 | $ | 1,040.83 | ||||
| Second Quarter | $ | 1,173.78 | $ | 1,027.00 | ||||
| First Quarter | $ | 1,220.95 | $ | 991.05 | ||||
| 2013 | ||||||||
| Fourth Quarter | $ | 1,042.55 | $ | 883.96 | ||||
| Third Quarter | $ | 967.00 | $ | 830.00 | ||||
| Second Quarter | $ | 1,084.00 | $ | 885.43 | ||||
| First Quarter | $ | 1,100.00 | $ | 920.00 |
As of the close of business on February 17, 2015, there were 303 shareholders of record.
We have never paid a cash dividend on our shares of common stock and have no current intention to do so in the future.
We had two stock repurchase authorizations outstanding during the quarter ended December 31, 2014. On December 17, 2013 and July 31, 2014, we publicly announced the Board of Directors’ approval for us to repurchase up to an aggregate of $300 million per authorization of our common stock in one or more open market and/or privately negotiated transactions. The repurchase authorizations do not have an expiration date. The following table provides information regarding common stock repurchases during the quarter ended December 31, 2014:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| October 1 - 31, 2014 | 76,663 | $ | 1,127.91 | 76,663 | $ | 242,220,702 | ||||||||||
| November 1 - 30, 2014 | — | $ | — | — | $ | 242,220,702 | ||||||||||
| December 1 - 31, 2014 | 59,258 | $ | 1,208.95 | 59,258 | $ | 170,580,957 | ||||||||||
| Total | 135,921 | $ | 1,163.24 | 135,921 |
The October 2014 repurchase activity included 25,332 shares purchased under the December 17, 2013 authorization, which fully utilized that authorization. The remaining 51,331 shares were purchased under the July 31, 2014 authorization.
On February 18, 2015, the Board of Directors approved a repurchase authorization providing us authorization to repurchase up to an aggregate of $300 million of our common stock in one or more open market and/or privately negotiated transactions.
STOCK PERFORMANCE GRAPH
COMPARISON OF CUMULATIVE TOTAL EQUITYHOLDER RETURN ON EQUITY
The following chart graphs our performance in the form of cumulative total return to holders of our common stock since December 31, 2009 in comparison to the Dow Jones US Home Construction Index and the Dow Jones US Industrial Average Index for that same period, assuming that $100 was invested in NVR stock and the indices on December 31, 2009.
| For the Year Ended December 31, | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Comparison of 5 Year Cumulative Total Return | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||||
| NVR, Inc. | $ | 100 | $ | 97 | $ | 97 | $ | 129 | $ | 144 | $ | 179 | ||||||||||||
| Dow Jones US Industrial Average | $ | 100 | $ | 114 | $ | 124 | $ | 121 | $ | 177 | $ | 194 | ||||||||||||
| Dow Jones US Home Construction | $ | 100 | $ | 101 | $ | 98 | $ | 179 | $ | 197 | $ | 213 |
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