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 quarter during the years ended December 31, 2016 and 2015:
| High | Low | |||||||
|---|---|---|---|---|---|---|---|---|
| Prices per share: | ||||||||
| 2016 | ||||||||
| Fourth Quarter | $ | 1,695.41 | $ | 1,478.04 | ||||
| Third Quarter | $ | 1,845.37 | $ | 1,633.00 | ||||
| Second Quarter | $ | 1,801.94 | $ | 1,606.75 | ||||
| First Quarter | $ | 1,820.00 | $ | 1,462.02 | ||||
| 2015 | ||||||||
| Fourth Quarter | $ | 1,721.95 | $ | 1,500.23 | ||||
| Third Quarter | $ | 1,610.00 | $ | 1,317.23 | ||||
| Second Quarter | $ | 1,387.40 | $ | 1,292.11 | ||||
| First Quarter | $ | 1,377.76 | $ | 1,187.84 |
As of the close of business on February 10, 2017, there were 278 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 share repurchase authorizations outstanding during the quarter ended December 31, 2016. On November 4, 2015 and November 2, 2016, we publicly announced the Board of Directors’ approval for us to repurchase our outstanding common stock in one or more open market and/or privately negotiated transactions, up to an aggregate of $300 million per authorization. The repurchase authorizations do not have expiration dates. The following table provides information regarding common stock repurchases during the quarter ended December 31, 2016:
| 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, 2016 | 26,284 | $ | 1,608.69 | 26,284 | $ | 5,187 | ||||||||||
| November 1 - 30, 2016 (1) | 29,930 | $ | 1,565.04 | 29,930 | $ | 258,344 | ||||||||||
| December 1 - 31, 2016 | 45,768 | $ | 1,627.41 | 45,768 | $ | 183,861 | ||||||||||
| Total | 101,982 | $ | 1,604.28 | 101,982 |
| (1) | 3,405 outstanding shares were repurchased under the November 4, 2015 share repurchase authorization, which fully utilized the authorization. The remaining 26,525 outstanding shares were repurchased under the November 2, 2016 share repurchase authorization. |
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On February 15, 2017, 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
The following graph compares the cumulative total return to holders of our common stock since December 31, 2011 with the Dow Jones US Home Construction Index and the S&P 500 Index for that same period, assuming that $100 was invested in NVR stock and the indices on December 31, 2011.
| For the Year Ended December 31, | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Comparison of 5 Year Cumulative Total Return | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||||
| NVR, Inc. | $ | 100 | $ | 134 | $ | 150 | $ | 186 | $ | 240 | $ | 243 | ||||||||||||
| S&P 500 | $ | 100 | $ | 116 | $ | 154 | $ | 175 | $ | 177 | $ | 198 | ||||||||||||
| Dow Jones US Home Construction | $ | 100 | $ | 183 | $ | 202 | $ | 218 | $ | 240 | $ | 224 |
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