NVR, Inc. (NYSE:NVR)’s share price reached a new 52-week low on Thursday . The stock traded as low as $2,302.02 and last traded at $2,310.20, with a volume of 898 shares changing hands. The stock had previously closed at $2,349.29.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered NVR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. MKM Partners cut their target price on NVR to $3,100.00 and set a “neutral” rating on the stock in a research note on Friday, August 3rd. JPMorgan Chase & Co. reissued a “$2,892.50” rating and issued a $3,100.00 target price (down previously from $3,450.00) on shares of NVR in a research note on Monday, July 23rd. Finally, ValuEngine lowered NVR from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. NVR has an average rating of “Hold” and a consensus target price of $3,341.50.
The company has a debt-to-equity ratio of 0.37, a current ratio of 3.67 and a quick ratio of 1.40. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.87 and a beta of 0.48.
NVR (NYSE:NVR) last released its earnings results on Friday, July 20th. The construction company reported $49.05 earnings per share for the quarter, beating the consensus estimate of $46.21 by $2.84. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. NVR had a return on equity of 45.41% and a net margin of 9.86%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $35.19 earnings per share. As a group, equities research analysts anticipate that NVR, Inc. will post 189.18 earnings per share for the current fiscal year.
NVR announced that its board has approved a share buyback program on Wednesday, August 1st that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Eddie Arthur Grier sold 108 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $2,722.12, for a total transaction of $293,988.96. Following the sale, the director now owns 193 shares of the company’s stock, valued at $525,369.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey D. Martchek sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $2,727.09, for a total value of $2,727,090.00. Following the sale, the insider now directly owns 5,198 shares in the company, valued at approximately $14,175,413.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,108 shares of company stock worth $5,734,359. 12.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of NVR by 150,961.3% during the second quarter. Advisors Asset Management Inc. now owns 335,356 shares of the construction company’s stock worth $487,000 after purchasing an additional 335,134 shares during the period. FMR LLC raised its position in shares of NVR by 2.3% during the second quarter. FMR LLC now owns 90,721 shares of the construction company’s stock worth $269,473,000 after purchasing an additional 2,004 shares during the period. Bank of New York Mellon Corp raised its position in shares of NVR by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 51,059 shares of the construction company’s stock worth $151,664,000 after purchasing an additional 4,845 shares during the period. Northern Trust Corp raised its position in shares of NVR by 3.1% during the second quarter. Northern Trust Corp now owns 42,575 shares of the construction company’s stock worth $126,461,000 after purchasing an additional 1,270 shares during the period. Finally, USS Investment Management Ltd raised its position in NVR by 44.2% in the 2nd quarter. USS Investment Management Ltd now owns 35,334 shares of the construction company’s stock valued at $104,954,000 after buying an additional 10,830 shares during the last quarter. 78.08% of the stock is currently owned by institutional investors.
About NVR (NYSE:NVR)
NVR, Inc operates as a homebuilder in the United States. The company operates through four segments: Mid Atlantic, North East, Mid East, and South East. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
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