State of Michigan Retirement System Sells 100 Shares of NVR, Inc. $NVR

State of Michigan Retirement System decreased its position in shares of NVR, Inc. (NYSE:NVR) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 946 shares of the construction company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in NVR were worth $6,899,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NVR. Murphy Middleton Hinkle & Parker Inc. bought a new stake in NVR during the 4th quarter valued at approximately $11,610,000. Principal Financial Group Inc. increased its position in NVR by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company’s stock worth $484,546,000 after buying an additional 2,331 shares during the period. Nordea Investment Management AB increased its position in NVR by 262.2% in the 3rd quarter. Nordea Investment Management AB now owns 938 shares of the construction company’s stock worth $7,522,000 after buying an additional 679 shares during the period. American Century Companies Inc. lifted its holdings in shares of NVR by 17.0% during the third quarter. American Century Companies Inc. now owns 6,370 shares of the construction company’s stock worth $51,181,000 after buying an additional 925 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in shares of NVR during the third quarter worth approximately $691,000. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVR

In other news, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction dated 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 sale, the chief accounting officer directly owned 208 shares in the company, valued at approximately $1,684,800. The trade was a 70.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Williamson Ross sold 200 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total transaction of $1,584,412.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold 1,120 shares of company stock valued at $9,012,736 in the last 90 days. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVR. Truist Financial lowered their price objective on shares of NVR from $7,100.00 to $6,600.00 and set a “hold” rating on the stock in a research note on Thursday, April 23rd. BTIG Research reiterated a “buy” rating and set a $8,096.00 target price on shares of NVR in a research note on Wednesday, April 22nd. UBS Group reduced their price target on shares of NVR from $8,100.00 to $7,700.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Zelman & Associates upgraded shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a research report on Thursday, January 29th. Finally, Wall Street Zen downgraded shares of NVR from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, NVR currently has an average rating of “Hold” and an average target price of $7,649.33.

NVR Price Performance

Shares of NYSE:NVR opened at $6,203.65 on Thursday. NVR, Inc. has a 1-year low of $6,195.15 and a 1-year high of $8,618.28. The firm has a market capitalization of $17.23 billion, a PE ratio of 15.12, a PEG ratio of 4.55 and a beta of 1.07. The business’s 50 day moving average is $6,804.63 and its 200-day moving average is $7,258.10. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR) last issued its earnings results on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing analysts’ consensus estimates of $79.97 by ($12.21). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $2.09 billion. NVR had a net margin of 12.93% and a return on equity of 31.82%. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $94.83 earnings per share. Sell-side analysts predict that NVR, Inc. will post 393.81 earnings per share for the current year.

NVR announced that its board has authorized a stock 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 management believes its stock is undervalued.

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.