Seaport Res Ptn Weighs in on NVR, Inc.’s Q2 2024 Earnings (NYSE:NVR)

NVR, Inc. (NYSE:NVR) – Research analysts at Seaport Res Ptn cut their Q2 2024 earnings estimates for shares of NVR in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings of $118.00 per share for the quarter, down from their prior estimate of $132.00. The consensus estimate for NVR’s current full-year earnings is $494.66 per share. Seaport Res Ptn also issued estimates for NVR’s Q4 2024 earnings at $133.00 EPS, FY2024 earnings at $499.00 EPS and FY2025 earnings at $509.00 EPS.

NVR (NYSE:NVR) last issued its quarterly earnings data on Tuesday, April 23rd. The construction company reported $116.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $103.97 by $12.44. NVR had a net margin of 17.33% and a return on equity of 38.54%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company earned $99.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis.

NVR has been the subject of several other reports. UBS Group raised their price target on shares of NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Wednesday.

NVR Price Performance

Shares of NYSE NVR opened at $7,647.04 on Friday. The company has a fifty day moving average price of $7,741.99 and a 200 day moving average price of $6,982.80. The firm has a market cap of $24.47 billion, a PE ratio of 15.94, a PEG ratio of 3.21 and a beta of 1.13. The company has a current ratio of 6.52, a quick ratio of 3.90 and a debt-to-equity ratio of 0.21. NVR has a 1-year low of $5,210.49 and a 1-year high of $8,211.40.

NVR declared that its board has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Paul C. Saville sold 250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $7,611.03, for a total value of $1,902,757.50. Following the completion of the sale, the chairman now owns 106,860 shares of the company’s stock, valued at approximately $813,314,665.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Matthew B. Kelpy sold 100 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $7,615.00, for a total value of $761,500.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares in the company, valued at approximately $1,751,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Paul C. Saville sold 250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $7,611.03, for a total value of $1,902,757.50. Following the transaction, the chairman now directly owns 106,860 shares in the company, valued at approximately $813,314,665.80. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock valued at $59,155,947 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Trading of NVR

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in NVR by 626,255.3% in the 4th quarter. International Assets Investment Management LLC now owns 238,015 shares of the construction company’s stock valued at $1,666,212,000 after acquiring an additional 237,977 shares during the period. Unison Advisors LLC bought a new position in shares of NVR in the fourth quarter valued at about $2,345,000. ING Groep NV raised its position in shares of NVR by 21.5% in the third quarter. ING Groep NV now owns 3,810 shares of the construction company’s stock valued at $22,720,000 after purchasing an additional 675 shares during the period. AIA Group Ltd lifted its stake in shares of NVR by 15.6% during the 4th quarter. AIA Group Ltd now owns 311 shares of the construction company’s stock worth $2,177,000 after buying an additional 42 shares during the last quarter. Finally, Fortis Capital Management LLC boosted its holdings in shares of NVR by 6.8% during the 3rd quarter. Fortis Capital Management LLC now owns 219 shares of the construction company’s stock worth $1,307,000 after buying an additional 14 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

About NVR

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.