Mirae Asset Global Investments Co. Ltd. Makes New Investment in NVR, Inc. $NVR

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NVR, Inc. (NYSE:NVR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 909 shares of the construction company’s stock, valued at approximately $5,594,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Trust LLC purchased a new stake in NVR during the second quarter valued at about $27,000. Activest Wealth Management bought a new stake in NVR during the third quarter worth about $25,000. Trust Co. of Vermont bought a new stake in NVR during the second quarter worth about $34,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in NVR during the second quarter worth about $34,000. Finally, Global Retirement Partners LLC bought a new stake in NVR during the second quarter worth about $41,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVR. Wall Street Zen lowered NVR from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Truist Financial dropped their target price on NVR from $6,600.00 to $6,400.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Bank of America downgraded NVR from a “buy” rating to an “underperform” rating and set a $5,900.00 target price for the company. in a research report on Friday, October 23rd. Morgan Stanley cut their target price on NVR from $5,058.00 to $4,864.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, BTIG Research reiterated a “buy” rating on shares of NVR in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6,564.83.

NVR Stock Performance

NVR stock opened at $6,424.97 on Friday. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $17.09 billion, a PE ratio of 17.71 and a beta of 0.93. The firm has a fifty day simple moving average of $6,109.63 and a two-hundred day simple moving average of $6,530.66. NVR, Inc. has a twelve month low of $5,501.01 and a twelve month high of $8,200.00.

NVR (NYSE:NVR) last posted its quarterly earnings results on Thursday, October 22nd. The construction company reported $89.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $102.77 by ($13.32). NVR had a net margin of 11.51% and a return on equity of 29.23%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $112.33 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. Research analysts expect that NVR, Inc. will post 345.15 EPS for the current year.

NVR Company Profile

NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs and constructs single-family detached homes, townhomes and condominiums for buyers in a range of residential markets.

NVR markets homes primarily under the Ryan Homes, NVHomes and Heartland Homes brands. Ryan Homes generally serves a broad range of buyers, while NVHomes focuses on higher-end communities. The company’s homebuilding operations serve selected markets across the Mid-Atlantic, Midwest and Southeast regions of the United States.

Through NVR Mortgage, the company provides mortgage loan origination services to many of its homebuyers.