Howe & Rusling Inc. bought a new position in shares of NVR, Inc. (NYSE:NVR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17 shares of the construction company’s stock, valued at approximately $47,000.
Several other hedge funds have also recently bought and sold shares of NVR. Jane Street Group LLC bought a new position in shares of NVR during the third quarter valued at $413,000. Man Group plc increased its position in NVR by 2.0% in the third quarter. Man Group plc now owns 1,921 shares of the construction company’s stock worth $4,747,000 after purchasing an additional 37 shares during the period. Mackenzie Financial Corp increased its position in NVR by 44.6% in the third quarter. Mackenzie Financial Corp now owns 120 shares of the construction company’s stock worth $296,000 after purchasing an additional 37 shares during the period. Teachers Advisors LLC increased its position in NVR by 0.4% in the third quarter. Teachers Advisors LLC now owns 11,055 shares of the construction company’s stock worth $27,315,000 after purchasing an additional 46 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of NVR by 51.2% during the 3rd quarter. Nordea Investment Management AB now owns 2,739 shares of the construction company’s stock worth $6,766,000 after buying an additional 928 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.
NVR has been the topic of several recent analyst reports. Wells Fargo & Co set a $3,500.00 price objective on NVR and gave the company a “market perform” rating in a report on Tuesday, April 23rd. Buckingham Research boosted their price target on NVR from $3,030.00 to $3,410.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised NVR from a “sell” rating to a “hold” rating in a report on Monday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3,251.17.
In other NVR news, CEO Paul C. Saville sold 7,100 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $3,298.44, for a total value of $23,418,924.00. Following the completion of the sale, the chief executive officer now directly owns 117,170 shares of the company’s stock, valued at $386,478,214.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul C. Saville sold 3,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $3,342.38, for a total value of $10,027,140.00. Following the completion of the sale, the chief executive officer now directly owns 113,770 shares of the company’s stock, valued at $380,262,572.60. The disclosure for this sale can be found here. Insiders sold 21,370 shares of company stock worth $70,065,688 in the last 90 days. Corporate insiders own 11.10% of the company’s stock.
NYSE NVR traded up $57.44 during trading hours on Friday, hitting $3,272.72. 21,264 shares of the company’s stock were exchanged, compared to its average volume of 24,831. The stock has a market capitalization of $11.55 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.04 and a quick ratio of 2.03. NVR, Inc. has a 1-year low of $2,040.71 and a 1-year high of $3,381.98.
NVR (NYSE:NVR) last announced its quarterly earnings results on Monday, April 22nd. The construction company reported $47.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $34.45 by $13.19. NVR had a return on equity of 46.85% and a net margin of 11.45%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $39.34 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts expect that NVR, Inc. will post 198.36 earnings per share for the current year.
NVR declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.
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