Investment Management Corp of Ontario Trims Stake in NVR, Inc. (NYSE:NVR)

Investment Management Corp of Ontario cut its holdings in shares of NVR, Inc. (NYSE:NVR) by 45.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 458 shares of the construction company’s stock after selling 377 shares during the quarter. Investment Management Corp of Ontario’s holdings in NVR were worth $3,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of NVR in the 4th quarter worth approximately $3,277,825,000. Norges Bank purchased a new stake in NVR in the fourth quarter valued at approximately $295,643,000. JPMorgan Chase & Co. lifted its stake in NVR by 165.8% during the fourth quarter. JPMorgan Chase & Co. now owns 36,999 shares of the construction company’s stock worth $302,611,000 after purchasing an additional 23,079 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of NVR during the fourth quarter worth $118,087,000. Finally, Capital Research Global Investors grew its stake in shares of NVR by 11.7% in the fourth quarter. Capital Research Global Investors now owns 107,606 shares of the construction company’s stock valued at $880,099,000 after buying an additional 11,274 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Trading Down 1.0 %

NVR opened at $7,152.97 on Friday. The business has a fifty day moving average price of $7,183.79 and a 200 day moving average price of $7,950.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.18 and a quick ratio of 3.69. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 2.39 and a beta of 1.02.

NVR (NYSE:NVR) last released its earnings results on Tuesday, April 22nd. The construction company reported $94.83 earnings per share for the quarter, missing analysts’ consensus estimates of $107.87 by ($13.04). NVR had a return on equity of 39.67% and a net margin of 16.34%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Sell-side analysts expect that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

NVR has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. UBS Group lowered their price objective on shares of NVR from $8,900.00 to $7,900.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9,023.33.

Insider Activity

In other news, Director Thomas D. Eckert sold 143 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $7,515.60, for a total transaction of $1,074,730.80. Following the sale, the director now owns 1,050 shares of the company’s stock, valued at approximately $7,891,380. This trade represents a 11.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.00% of the company’s stock.

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.