Cornerstone Advisors LLC Takes Position in NVR, Inc. $NVR

Cornerstone Advisors LLC bought a new stake in shares of NVR, Inc. (NYSE:NVR) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 956 shares of the construction company’s stock, valued at approximately $6,514,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MidFirst Bank purchased a new position in NVR in the 2nd quarter worth approximately $68,000. BlackRock Inc. purchased a new stake in shares of NVR during the second quarter valued at approximately $2,004,324,000. Pallas Capital Advisors LLC purchased a new stake in shares of NVR during the second quarter valued at approximately $858,000. Deutsche Bank AG acquired a new position in shares of NVR during the second quarter worth $120,488,000. Finally, Trust Co. of Vermont acquired a new position in shares of NVR during the second quarter worth $34,000. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Stock Performance

NVR stock opened at $6,311.32 on Tuesday. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,618.28. The company has a current ratio of 5.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27. The stock has a market cap of $16.79 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 10.55 and a beta of 0.91. The stock has a 50 day moving average of $6,453.49 and a 200-day moving average of $6,644.87.

NVR (NYSE:NVR) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $83.06. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.40 billion. NVR had a net margin of 12.26% and a return on equity of 31.02%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $108.54 earnings per share. On average, analysts expect that NVR, Inc. will post 366.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of NVR from $6,600.00 to $6,400.00 and set a “hold” rating for the company in a report on Friday, July 24th. Bank of America cut their price objective on shares of NVR from $7,600.00 to $7,200.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group decreased their price objective on shares of NVR from $7,700.00 to $7,400.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Finally, Zacks Research downgraded NVR from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NVR has a consensus rating of “Hold” and a consensus price target of $7,224.20.

Insider Buying and Selling

In other news, Director George Oliver purchased 63 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the purchase, the director owned 63 shares of the company’s stock, valued at approximately $405,185.13. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

NVR Company Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.