Moneta Group Investment Advisors LLC Grows Holdings in NVR, Inc. (NVR)
Moneta Group Investment Advisors LLC grew its holdings in shares of NVR, Inc. (NYSE:NVR) by 102.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 79 shares of the construction company’s stock after purchasing an additional 40 shares during the period. Moneta Group Investment Advisors LLC’s holdings in NVR were worth $235,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Navellier & Associates Inc grew its stake in NVR by 5.1% during the second quarter. Navellier & Associates Inc now owns 436 shares of the construction company’s stock worth $1,295,000 after buying an additional 21 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of NVR by 2.7% during the first quarter. Xact Kapitalforvaltning AB now owns 825 shares of the construction company’s stock worth $2,310,000 after purchasing an additional 22 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of NVR by 3.3% during the first quarter. Thrivent Financial for Lutherans now owns 783 shares of the construction company’s stock worth $2,192,000 after purchasing an additional 25 shares in the last quarter. Zacks Investment Management lifted its position in shares of NVR by 4.3% during the second quarter. Zacks Investment Management now owns 710 shares of the construction company’s stock worth $2,110,000 after purchasing an additional 29 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in shares of NVR by 4.8% during the second quarter. OppenheimerFunds Inc. now owns 650 shares of the construction company’s stock worth $1,931,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.
A number of research analysts have recently commented on NVR shares. JPMorgan Chase & Co. reissued a “$2,892.50” rating and set a $3,100.00 target price (down from $3,450.00) on shares of NVR in a research report on Monday, July 23rd. MKM Partners reduced their target price on shares of NVR to $3,100.00 and set a “neutral” rating on the stock in a research report on Friday, August 3rd. ValuEngine cut shares of NVR from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research cut shares of NVR from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. NVR has an average rating of “Hold” and an average price target of $3,341.50.
NVR (NYSE:NVR) last posted its earnings results on Friday, July 20th. The construction company reported $49.05 EPS for the quarter, topping analysts’ consensus estimates of $46.21 by $2.84. NVR had a net margin of 9.86% and a return on equity of 45.41%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $35.19 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities research analysts anticipate that NVR, Inc. will post 189.18 earnings per share for the current year.
NVR announced that its board has initiated a stock repurchase plan on Wednesday, August 1st that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Jeffrey D. Martchek sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $2,727.09, for a total value of $2,727,090.00. Following the sale, the insider now directly owns 5,198 shares of the company’s stock, valued at $14,175,413.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddie Arthur Grier sold 108 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $2,722.12, for a total transaction of $293,988.96. Following the completion of the sale, the director now directly owns 193 shares in the company, valued at $525,369.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,108 shares of company stock worth $5,734,359. Corporate insiders own 11.30% of the company’s stock.
NVR, Inc operates as a homebuilder in the United States. The company operates through four segments: Mid Atlantic, North East, Mid East, and South East. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
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