Korea Investment CORP Sells 718 Shares of NVR, Inc. $NVR

Korea Investment CORP lowered its holdings in NVR, Inc. (NYSE:NVR) by 27.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,918 shares of the construction company’s stock after selling 718 shares during the quarter. Korea Investment CORP owned approximately 0.07% of NVR worth $15,410,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Assetmark Inc. lifted its stake in NVR by 50.0% in the second quarter. Assetmark Inc. now owns 6 shares of the construction company’s stock worth $44,000 after acquiring an additional 2 shares during the period. State of Wyoming bought a new stake in NVR in the second quarter valued at $44,000. Zions Bancorporation National Association UT increased its position in NVR by 600.0% during the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company’s stock valued at $56,000 after purchasing an additional 6 shares during the period. CYBER HORNET ETFs LLC purchased a new position in NVR during the 2nd quarter valued at $59,000. Finally, Financial Gravity Companies Inc. bought a new position in NVR in the 2nd quarter worth $66,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a report on Thursday, January 22nd. Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. BTIG Research initiated coverage on NVR in a report on Monday, December 1st. They set a “buy” rating and a $9,022.00 price target for the company. Truist Financial initiated coverage on shares of NVR in a research note on Wednesday, March 4th. They issued a “hold” rating and a $7,700.00 price target on the stock. Finally, UBS Group set a $8,100.00 price objective on shares of NVR in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8,182.83.

NVR Stock Down 1.2%

NVR stock opened at $6,786.14 on Wednesday. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $8,618.28. The stock has a fifty day simple moving average of $7,531.58 and a two-hundred day simple moving average of $7,631.61. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24. The firm has a market cap of $18.93 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.34 and a beta of 1.04.

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

NVR announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Susan Williamson Ross sold 220 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total transaction of $1,760,000.00. Following the sale, the director owned 386 shares of the company’s stock, valued at $3,088,000. This trade represents a 36.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction that occurred on 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 sale, the chief accounting officer owned 208 shares of the company’s stock, valued at $1,684,800. This represents a 70.62% 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 worth $9,012,736 in the last 90 days. Company insiders own 7.80% 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.