Wedge Capital Management L L P NC Trims Stock Position in NVR, Inc. (NYSE:NVR)

Wedge Capital Management L L P NC decreased its stake in NVR, Inc. (NYSE:NVR) by 95.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 303 shares of the construction company’s stock after selling 5,851 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NVR were worth $2,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of NVR by 626,255.3% during the 4th quarter. International Assets Investment Management LLC now owns 238,015 shares of the construction company’s stock worth $1,666,212,000 after purchasing an additional 237,977 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of NVR in the third quarter valued at approximately $62,370,000. Vanguard Group Inc. lifted its position in shares of NVR by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 358,402 shares of the construction company’s stock valued at $2,137,259,000 after buying an additional 7,516 shares in the last quarter. Pacer Advisors Inc. increased its holdings in NVR by 25.0% in the 4th quarter. Pacer Advisors Inc. now owns 27,719 shares of the construction company’s stock worth $194,045,000 after acquiring an additional 5,549 shares in the last quarter. Finally, Invesco Ltd. raised its position in NVR by 11.2% during the third quarter. Invesco Ltd. now owns 44,319 shares of the construction company’s stock worth $264,287,000 after acquiring an additional 4,468 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Stock Performance

NYSE:NVR opened at $7,798.28 on Thursday. The company has a market cap of $24.95 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.85 and a beta of 1.13. NVR, Inc. has a twelve month low of $5,210.49 and a twelve month high of $8,211.40. The company’s 50-day moving average price is $7,733.16 and its 200-day moving average price is $6,961.16. The company has a current ratio of 6.10, a quick ratio of 3.90 and a debt-to-equity ratio of 0.21.

NVR (NYSE:NVR) last issued its earnings results on Tuesday, April 23rd. The construction company reported $116.41 earnings per share for the quarter, topping the consensus estimate of $103.97 by $12.44. NVR had a return on equity of 38.81% and a net margin of 17.33%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm posted $99.89 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that NVR, Inc. will post 499.45 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Susan Williamson Ross sold 250 shares of NVR stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $7,344.94, for a total transaction of $1,836,235.00. Following the sale, the director now owns 405 shares of the company’s stock, valued at approximately $2,974,700.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other NVR news, CAO Matthew B. Kelpy sold 100 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $7,615.00, for a total transaction of $761,500.00. Following the completion of the transaction, the chief accounting officer now owns 230 shares of the company’s stock, valued at $1,751,450. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Williamson Ross sold 250 shares of NVR stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $7,344.94, for a total transaction of $1,836,235.00. Following the sale, the director now owns 405 shares of the company’s stock, valued at $2,974,700.70. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock valued at $59,155,947 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NVR shares. UBS Group boosted their target price on shares of NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com raised NVR from a “hold” rating to a “buy” rating in a report on Wednesday.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.