Todd Asset Management LLC decreased its position in NVR, Inc. (NYSE:NVR) by 39.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,914 shares of the construction company’s stock after selling 5,795 shares during the period. Todd Asset Management LLC owned 0.25% of NVR worth $22,024,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Alliancebernstein L.P. raised its position in shares of NVR by 3.4% during the third quarter. Alliancebernstein L.P. now owns 5,213 shares of the construction company’s stock worth $12,880,000 after purchasing an additional 169 shares during the period. Piedmont Investment Advisors Inc. acquired a new stake in shares of NVR during the third quarter worth about $566,000. Twin Capital Management Inc. raised its position in shares of NVR by 168.2% during the third quarter. Twin Capital Management Inc. now owns 346 shares of the construction company’s stock worth $855,000 after purchasing an additional 217 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of NVR during the third quarter worth about $346,000. Finally, Prudential Financial Inc. raised its position in shares of NVR by 13.1% during the third quarter. Prudential Financial Inc. now owns 24,558 shares of the construction company’s stock worth $60,678,000 after purchasing an additional 2,836 shares during the period. Institutional investors and hedge funds own 77.99% of the company’s stock.
Shares of NVR stock opened at $2,435.33 on Tuesday. NVR, Inc. has a 52-week low of $2,040.71 and a 52-week high of $3,700.00. The company has a market capitalization of $8.68 billion, a P/E ratio of 17.20, a PEG ratio of 0.93 and a beta of 0.62. The company has a current ratio of 3.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.
NVR (NYSE:NVR) last announced its earnings results on Thursday, October 18th. The construction company reported $48.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $50.94 by ($2.66). NVR had a net margin of 10.10% and a return on equity of 47.30%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $38.02 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that NVR, Inc. will post 185.25 earnings per share for the current year.
NVR declared that its board has authorized a share buyback plan on Wednesday, August 1st that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
NVR has been the topic of a number of research analyst reports. ValuEngine lowered NVR from a “sell” rating to a “strong sell” rating in a research report on Friday, September 28th. Zacks Investment Research lowered NVR from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. reissued a “$2,892.50” rating and issued a $3,100.00 target price (down previously from $3,450.00) on shares of NVR in a research report on Monday, July 23rd. Wells Fargo & Co reissued a “market perform” rating and issued a $2,410.00 target price (down previously from $3,780.00) on shares of NVR in a research report on Friday, October 19th. Finally, MKM Partners dropped their target price on NVR to $3,100.00 and set a “neutral” rating on the stock in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $3,104.33.
In other NVR news, insider Jeffrey D. Martchek sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $2,713.28, for a total value of $2,713,280.00. Following the completion of the transaction, the insider now directly owns 5,198 shares in the company, valued at $14,103,629.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. Martchek sold 4,411 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $2,385.93, for a total value of $10,524,337.23. Following the completion of the transaction, the insider now owns 8,609 shares of the company’s stock, valued at $20,540,471.37. The disclosure for this sale can be found here. In the last three months, insiders sold 25,464 shares of company stock worth $56,404,167. 12.00% of the stock is owned by insiders.
TRADEMARK VIOLATION WARNING: “NVR, Inc. (NVR) Shares Sold by Todd Asset Management LLC” was published by Zolmax and is the property of of Zolmax. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://zolmax.com/investing/nvr-inc-nvr-shares-sold-by-todd-asset-management-llc/2705390.html.
NVR, Inc operates as a homebuilder in the United States. The company operates through four segments: Mid Atlantic, North East, Mid East, and South East. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
Recommended Story: Earnings Reports
Want to see what other hedge funds are holding NVR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVR, Inc. (NYSE:NVR).
Receive News & Ratings for NVR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVR and related companies with MarketBeat.com's FREE daily email newsletter.