Principal Financial Group Inc. Acquires 544 Shares of NVR, Inc. (NYSE:NVR)

Principal Financial Group Inc. raised its holdings in shares of NVR, Inc. (NYSE:NVR) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,544 shares of the construction company’s stock after purchasing an additional 544 shares during the quarter. Principal Financial Group Inc. owned 2.37% of NVR worth $420,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. D Orazio & Associates Inc. bought a new position in NVR during the second quarter valued at $25,000. Summit Wealth Group LLC bought a new position in NVR during the first quarter valued at $33,000. Ameritas Investment Company LLC bought a new position in NVR during the first quarter valued at $33,000. Rockefeller Capital Management L.P. lifted its position in NVR by 37.5% during the first quarter. Rockefeller Capital Management L.P. now owns 11 shares of the construction company’s stock valued at $51,000 after purchasing an additional 3 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in NVR by 18.2% during the second quarter. Parallel Advisors LLC now owns 13 shares of the construction company’s stock valued at $65,000 after purchasing an additional 2 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

NVR stock opened at $4,958.59 on Wednesday. The firm has a 50-day moving average price of $5,101.65 and a 200-day moving average price of $4,910.68. The firm has a market capitalization of $17.68 billion, a PE ratio of 17.24 and a beta of 1.02. The company has a current ratio of 5.89, a quick ratio of 3.57 and a debt-to-equity ratio of 0.50. NVR, Inc. has a 12-month low of $3,823.31 and a 12-month high of $5,332.08.

NVR (NYSE:NVR) last released its earnings results on Tuesday, July 20th. The construction company reported $82.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $72.43 by $10.02. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. NVR had a net margin of 13.51% and a return on equity of 37.37%. The business’s revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the business earned $42.50 EPS. As a group, sell-side analysts predict that NVR, Inc. will post 348.1 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other NVR news, insider Eugene James Bredow sold 92 shares of the firm’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $5,260.00, for a total transaction of $483,920.00. Following the transaction, the insider now owns 918 shares of the company’s stock, valued at approximately $4,828,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Manuel H. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $5,143.21, for a total transaction of $5,143,210.00. Following the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $7,200,494. The disclosure for this sale can be found here. Insiders have sold a total of 1,392 shares of company stock valued at $7,205,130 in the last quarter. 9.00% of the stock is currently owned by company insiders.

NVR Company Profile

NVR, Inc engages in the construction and sale of single-family detached homes, townhomes and condominium buildings. It operates through the following segments: Homebuilding and Mortgage Banking. The Homebuilding segment sells and builds homes under the trade names Ryan Homes, NVHomes, Fox Ridge Homes and Heartland Homes.

Further Reading: Equity Income

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Institutional Ownership by Quarter for NVR (NYSE:NVR)

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