NVR, Inc. (NVR) Position Raised by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. increased its position in shares of NVR, Inc. (NYSE:NVR) by 208.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216 shares of the construction company’s stock after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc.’s holdings in NVR were worth $521,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in NVR by 0.4% during the second quarter. Alps Advisors Inc. now owns 238 shares of the construction company’s stock worth $574,000 after purchasing an additional 1 shares in the last quarter. HPM Partners LLC raised its holdings in NVR by 0.6% during the second quarter. HPM Partners LLC now owns 168 shares of the construction company’s stock worth $405,000 after purchasing an additional 1 shares in the last quarter. Advisor Partners LLC raised its holdings in NVR by 3.4% during the second quarter. Advisor Partners LLC now owns 122 shares of the construction company’s stock worth $294,000 after purchasing an additional 4 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in NVR by 1.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 509 shares of the construction company’s stock worth $1,227,000 after purchasing an additional 6 shares in the last quarter. Finally, Oakbrook Investments LLC raised its holdings in NVR by 4.0% during the second quarter. Oakbrook Investments LLC now owns 260 shares of the construction company’s stock worth $627,000 after purchasing an additional 10 shares in the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
NVR, Inc. (NYSE NVR) opened at 2939.91 on Monday. NVR, Inc. has a 12-month low of $1,478.04 and a 12-month high of $2,968.97. The firm has a 50 day moving average price of $2,810.09 and a 200 day moving average price of $2,493.24. The company has a market cap of $11.00 billion, a PE ratio of 23.26 and a beta of 0.66.
NVR (NYSE:NVR) last released its quarterly earnings results on Friday, July 21st. The construction company reported $35.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $28.63 by $6.56. NVR had a net margin of 9.55% and a return on equity of 40.29%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm earned $22.01 earnings per share. NVR’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that NVR, Inc. will post $139.24 earnings per share for the current fiscal year.
Several equities research analysts recently commented on NVR shares. Zacks Investment Research cut NVR from a “buy” rating to a “hold” rating in a report on Monday, September 25th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Bank of America Corporation reissued a “buy” rating and set a $2,690.00 target price (up previously from $2,485.00) on shares of NVR in a report on Wednesday, June 28th. Finally, MKM Partners reissued a “neutral” rating on shares of NVR in a report on Tuesday, September 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $2,645.00.
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In related news, Director William Grady Rosier sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $2,670.47, for a total value of $3,338,087.50. Following the transaction, the director now directly owns 1,212 shares in the company, valued at $3,236,609.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel David Malzahn sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $2,678.35, for a total transaction of $4,017,525.00. Following the completion of the transaction, the chief financial officer now owns 4,225 shares in the company, valued at $11,316,028.75. The disclosure for this sale can be found here. Insiders sold 4,240 shares of company stock worth $11,355,358 over the last 90 days. 11.30% of the stock is currently owned by company insiders.
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).
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