NVR (NYSE:NVR) Price Target Cut to $8,225.00 by Analysts at Bank of America

NVR (NYSE:NVR) had its price target reduced by investment analysts at Bank of America from $8,600.00 to $8,225.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 16.30% from the company’s previous close.

A number of other research firms have also recently weighed in on NVR. Truist Financial lowered their target price on shares of NVR from $7,700.00 to $7,100.00 and set a “hold” rating on the stock in a research note on Thursday. Zelman & Associates upgraded shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 target price on the stock in a research note on Thursday, January 29th. Seaport Research Partners restated a “sell” rating and set a $5,664.00 target price on shares of NVR in a research note on Tuesday, April 7th. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. Finally, UBS Group set a $8,100.00 target price on shares of NVR in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7,953.67.

NVR Stock Performance

Shares of NVR stock traded up $71.43 on Monday, hitting $7,072.35. 4,602 shares of the company’s stock were exchanged, compared to its average volume of 27,209. The company has a 50-day simple moving average of $6,988.34 and a 200-day simple moving average of $7,323.80. The stock has a market capitalization of $19.65 billion, a PE ratio of 16.15, a PEG ratio of 2.43 and a beta of 1.07. NVR has a 1 year low of $6,301.02 and a 1 year high of $8,618.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.71 and a current ratio of 6.21.

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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company posted $139.93 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVR will post 505.2 EPS for the current year.

NVR announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other NVR news, Director Susan Williamson Ross sold 200 shares of NVR stock in a transaction on Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total value of $1,584,412.00. Following the sale, the director directly owned 386 shares in the company, valued at approximately $3,057,915.16. The trade was a 34.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This represents a 70.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,120 shares of company stock worth $9,012,736. 8.60% of the stock is currently owned by insiders.

Institutional Trading of NVR

A number of large investors have recently made changes to their positions in NVR. M&T Bank Corp increased its holdings in shares of NVR by 34,923.5% in the 4th quarter. M&T Bank Corp now owns 56,738 shares of the construction company’s stock worth $413,777,000 after buying an additional 56,576 shares during the last quarter. Norges Bank bought a new stake in shares of NVR in the 4th quarter worth about $311,496,000. Corient Private Wealth LLC increased its holdings in shares of NVR by 407.5% in the 4th quarter. Corient Private Wealth LLC now owns 45,572 shares of the construction company’s stock worth $332,346,000 after buying an additional 36,592 shares during the last quarter. Close Asset Management Ltd bought a new stake in shares of NVR in the 3rd quarter worth about $148,939,000. Finally, Citadel Advisors LLC increased its holdings in shares of NVR by 318.4% in the 3rd quarter. Citadel Advisors LLC now owns 19,215 shares of the construction company’s stock worth $154,386,000 after buying an additional 14,623 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

NVR Company Profile

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.