Illinois Municipal Retirement Fund Lowers Holdings in NVR, Inc. $NVR

Illinois Municipal Retirement Fund trimmed its holdings in shares of NVR, Inc. (NYSE:NVR) by 23.1% during the 2nd quarter, Holdings Channel reports. The fund owned 2,226 shares of the construction company’s stock after selling 667 shares during the period. Illinois Municipal Retirement Fund’s holdings in NVR were worth $16,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AdvisorNet Financial Inc bought a new position in NVR in the second quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NVR in the 1st quarter valued at $36,000. Ridgewood Investments LLC raised its stake in shares of NVR by 150.0% in the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company’s stock worth $36,000 after purchasing an additional 3 shares during the last quarter. SouthState Corp acquired a new stake in NVR during the 1st quarter valued at approximately $36,000. Finally, Blue Trust Inc. boosted its holdings in NVR by 150.0% in the second quarter. Blue Trust Inc. now owns 5 shares of the construction company’s stock valued at $37,000 after purchasing an additional 3 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

NVR Trading Up 0.7%

Shares of NVR stock opened at $7,242.58 on Monday. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $9,376.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97. The firm has a market capitalization of $20.56 billion, a PE ratio of 15.90, a P/E/G ratio of 9.94 and a beta of 0.93. The business’s fifty day moving average price is $7,852.22 and its 200 day moving average price is $7,613.89.

NVR (NYSE:NVR) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $112.33 earnings per share for the quarter, beating analysts’ consensus estimates of $107.88 by $4.45. NVR had a return on equity of 35.81% and a net margin of 14.00%.The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the business posted $130.50 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that NVR, Inc. will post 505.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Matthew B. Kelpy sold 600 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the transaction, the chief accounting officer directly owned 208 shares of the company’s stock, valued at approximately $1,684,800. The trade was a 74.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexandra A. Jung sold 200 shares of NVR stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $8,082.44, for a total value of $1,616,488.00. Following the sale, the director owned 75 shares in the company, valued at $606,183. This represents a 72.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 850 shares of company stock valued at $6,888,075 over the last quarter. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

NVR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of NVR from $7,200.00 to $7,600.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of NVR in a research note on Wednesday, October 8th. UBS Group raised their price objective on shares of NVR from $8,150.00 to $8,500.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Wall Street Zen lowered NVR from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Bank of America dropped their target price on shares of NVR from $9,100.00 to $9,000.00 and set a “buy” rating for the company in a report on Friday, October 10th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8,366.67.

NVR Profile

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.