NVR (NYSE:NVR) Rating Lowered to “Sell” at Seaport Research Partners

NVR (NYSE:NVR) was downgraded by research analysts at Seaport Research Partners from a “hold” rating to a “sell” rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $5,664.00 price objective on the construction company’s stock. Seaport Research Partners’ price target points to a potential downside of 16.99% from the company’s previous close.

NVR has been the topic of several other research reports. Zelman & Associates upgraded shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a report on Thursday, January 29th. Truist Financial started coverage on shares of NVR in a research note on Wednesday, March 4th. They set a “hold” rating and a $7,700.00 price objective on the stock. Wall Street Zen raised shares of NVR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. 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 given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, NVR has an average rating of “Hold” and an average price target of $8,182.83.

NVR Stock Performance

NYSE:NVR traded up $330.96 during midday trading on Monday, hitting $6,823.20. The company’s stock had a trading volume of 2,136 shares, compared to its average volume of 27,766. NVR has a fifty-two week low of $6,301.02 and a fifty-two week high of $8,618.28. The firm’s 50 day moving average is $7,147.91 and its 200-day moving average is $7,391.81. 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 firm has a market cap of $18.95 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.27 and a beta of 1.07.

NVR (NYSE:NVR) last issued its quarterly earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a net margin of 13.27% and a return on equity of 34.28%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company earned $139.93 EPS. NVR’s quarterly revenue was down 5.2% on a year-over-year basis. Equities analysts anticipate that NVR will post 505.2 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has approved a share repurchase program on Wednesday, February 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Matthew B. Kelpy sold 500 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan Williamson Ross sold 220 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the transaction, the director owned 386 shares in the company, valued at $3,088,000. This trade represents a 36.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,120 shares of company stock worth $9,012,736 in the last quarter. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its position in shares of NVR by 35.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 185 shares of the construction company’s stock valued at $1,349,000 after buying an additional 48 shares in the last quarter. Meadowbrook Advisors Group LLC purchased a new position in shares of NVR during the 4th quarter valued at approximately $868,000. Corient Private Wealth LLC lifted its holdings in NVR by 1.5% in the 4th quarter. Corient Private Wealth LLC now owns 9,116 shares of the construction company’s stock valued at $66,481,000 after purchasing an additional 136 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in NVR by 1.0% in the 4th quarter. Pure Financial Advisors LLC now owns 311 shares of the construction company’s stock valued at $2,268,000 after purchasing an additional 3 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in NVR in the 4th quarter valued at $102,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

About NVR

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.