Wedge Capital Management L L P NC Cuts Stock Holdings in NVR, Inc. (NYSE:NVR)

Wedge Capital Management L L P NC trimmed its position in shares of NVR, Inc. (NYSE:NVR) by 95.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 303 shares of the construction company’s stock after selling 5,851 shares during the period. Wedge Capital Management L L P NC’s holdings in NVR were worth $2,121,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NVR. AE Wealth Management LLC lifted its stake in shares of NVR by 5.7% in the 3rd quarter. AE Wealth Management LLC now owns 37 shares of the construction company’s stock valued at $221,000 after purchasing an additional 2 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of NVR in the third quarter worth $215,000. Exchange Traded Concepts LLC raised its stake in shares of NVR by 136.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 90 shares of the construction company’s stock valued at $537,000 after acquiring an additional 52 shares during the period. Czech National Bank lifted its holdings in shares of NVR by 55.8% during the 3rd quarter. Czech National Bank now owns 561 shares of the construction company’s stock valued at $3,345,000 after acquiring an additional 201 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in NVR by 231.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,837 shares of the construction company’s stock valued at $10,955,000 after purchasing an additional 1,283 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com upgraded NVR from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group upped their price target on NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a report on Wednesday.

NVR Trading Down 0.5 %

NYSE:NVR opened at $7,798.28 on Thursday. NVR, Inc. has a one year low of $5,210.49 and a one year high of $8,211.40. The business’s 50-day simple moving average is $7,733.16 and its 200 day simple moving average is $6,961.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.90 and a current ratio of 6.10. The stock has a market cap of $24.95 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13.

NVR (NYSE:NVR) last announced its earnings results on Tuesday, April 23rd. The construction company reported $116.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $103.97 by $12.44. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. NVR had a return on equity of 38.81% and a net margin of 17.33%. NVR’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $99.89 EPS. As a group, sell-side analysts predict that NVR, Inc. will post 499.45 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has approved a share buyback program on Wednesday, February 14th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at NVR

In other news, Chairman Paul C. Saville sold 250 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $7,611.03, for a total value of $1,902,757.50. Following the sale, the chairman now owns 106,860 shares in the company, valued at approximately $813,314,665.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Paul C. Saville sold 250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $7,611.03, for a total value of $1,902,757.50. Following the completion of the sale, the chairman now directly owns 106,860 shares in the company, valued at approximately $813,314,665.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 100 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $7,615.00, for a total value of $761,500.00. Following the transaction, the chief accounting officer now owns 230 shares in the company, valued at $1,751,450. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,981 shares of company stock valued at $59,155,947. Insiders own 7.00% of the company’s stock.

NVR Company Profile

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of 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.