Norges Bank Invests $311.50 Million in NVR, Inc. $NVR

Norges Bank purchased a new position in NVR, Inc. (NYSE:NVR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 42,713 shares of the construction company’s stock, valued at approximately $311,496,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp lifted its position in NVR by 34,923.5% during the fourth quarter. M&T Bank Corp now owns 56,738 shares of the construction company’s stock valued at $413,777,000 after purchasing an additional 56,576 shares in the last quarter. Close Asset Management Ltd purchased a new position in NVR during the third quarter valued at $148,939,000. Citadel Advisors LLC lifted its position in NVR by 318.4% during the third quarter. Citadel Advisors LLC now owns 19,215 shares of the construction company’s stock valued at $154,386,000 after purchasing an additional 14,623 shares in the last quarter. Newport Capital Group LLC purchased a new position in NVR during the fourth quarter valued at $106,372,000. Finally, Capital Research Global Investors lifted its position in NVR by 8.0% during the third quarter. Capital Research Global Investors now owns 133,003 shares of the construction company’s stock valued at $1,068,634,000 after purchasing an additional 9,877 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael J. Devito bought 11 shares of NVR stock in a transaction dated Friday, April 24th. The shares were purchased at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the completion of the acquisition, the director owned 25 shares of the company’s stock, valued at $167,487.50. This trade represents a 78.57% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

NVR Price Performance

Shares of NVR stock opened at $6,133.39 on Tuesday. The stock’s 50-day simple moving average is $6,357.29 and its 200-day simple moving average is $7,038.37. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,618.28. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 4.50 and a beta of 0.95. The company has a quick ratio of 2.67, a current ratio of 5.19 and a debt-to-equity ratio of 0.26.

NVR (NYSE:NVR) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing the consensus estimate of $79.97 by ($12.21). NVR had a net margin of 12.93% and a return on equity of 32.66%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the firm earned $94.83 earnings per share. NVR’s revenue was down 21.7% on a year-over-year basis. As a group, analysts expect that NVR, Inc. will post 375.15 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Seaport Research Partners reiterated a “sell” rating and set a $5,664.00 target price on shares of NVR in a research report on Tuesday, April 7th. Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research reiterated a “buy” rating and set a $8,096.00 target price on shares of NVR in a research report on Wednesday, April 22nd. Bank of America lowered their target price on NVR from $8,600.00 to $8,225.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, UBS Group lowered their target price on NVR from $8,100.00 to $7,700.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NVR currently has a consensus rating of “Hold” and an average target price of $7,649.33.

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.