JPMorgan Chase & Co. Acquires 1,718 Shares of NVR, Inc. $NVR

JPMorgan Chase & Co. increased its holdings in NVR, Inc. (NYSE:NVR) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,318 shares of the construction company’s stock after buying an additional 1,718 shares during the quarter. JPMorgan Chase & Co.’s holdings in NVR were worth $348,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in NVR in the second quarter worth approximately $268,447,000. Robeco Institutional Asset Management B.V. increased its stake in shares of NVR by 844.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 8,321 shares of the construction company’s stock worth $66,856,000 after purchasing an additional 7,440 shares in the last quarter. Symphony Financial Ltd. Co. purchased a new stake in shares of NVR in the 2nd quarter worth $54,548,000. Rakuten Investment Management Inc. bought a new position in NVR in the 3rd quarter worth $51,896,000. Finally, Boston Partners lifted its position in NVR by 9.9% during the second quarter. Boston Partners now owns 64,952 shares of the construction company’s stock valued at $479,900,000 after purchasing an additional 5,875 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 500 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief accounting officer owned 208 shares in the company, valued at $1,684,800. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Williamson Ross sold 220 shares of NVR stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the completion of the sale, the director directly owned 386 shares in the company, valued at $3,088,000. This trade represents a 36.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,120 shares of company stock valued at $9,012,736 in the last three months. Insiders own 7.00% of the company’s stock.

NVR Trading Down 0.0%

NVR stock opened at $7,519.50 on Friday. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $8,618.28. The firm’s 50 day moving average price is $7,575.74 and its 200-day moving average price is $7,705.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.21 and a quick ratio of 3.71. The stock has a market cap of $20.98 billion, a P/E ratio of 17.20, a PEG ratio of 2.53 and a beta of 1.03.

NVR (NYSE:NVR) last posted its earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, beating the consensus estimate of $105.42 by $16.12. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.41 billion. NVR had a net margin of 13.27% and a return on equity of 34.28%. NVR’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $139.93 earnings per share. On average, equities analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its board has approved a share repurchase plan on Wednesday, February 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the construction company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on NVR shares. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. BTIG Research began coverage on shares of NVR in a report on Monday, December 1st. They issued a “buy” rating and a $9,022.00 target price for the company. Zelman & Associates upgraded shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 target price on the stock in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, UBS Group set a $8,100.00 price objective on shares of NVR in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8,279.40.

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.