Sumitomo Mitsui Trust Holdings Inc. cut its stake in NVR, Inc. (NYSE:NVR) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,431 shares of the construction company’s stock after selling 492 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of NVR worth $53,851,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Asset Advisory Services LLC bought a new stake in shares of NVR during the fourth quarter worth $29,000. GPS Wealth Strategies Group LLC bought a new stake in NVR during the 1st quarter worth approximately $32,000. Alpha DNA Investment Management LLC acquired a new stake in shares of NVR in the 4th quarter valued at approximately $40,000. CX Institutional lifted its holdings in NVR by 27.3% during the 1st quarter. CX Institutional now owns 14 shares of the construction company’s stock valued at $66,000 after purchasing an additional 3 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new position in NVR during the fourth quarter worth $61,000. 82.07% of the stock is owned by institutional investors and hedge funds.
NVR has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $5,290.00 price target on shares of NVR in a research note on Wednesday, March 17th. Wells Fargo & Company assumed coverage on shares of NVR in a research note on Wednesday, April 21st. They issued an “equal weight” rating and a $5,000.00 price objective for the company. Wolfe Research began coverage on NVR in a research report on Monday, March 22nd. They set a “peer perform” rating on the stock. Zacks Investment Research upgraded shares of NVR from a “hold” rating to a “buy” rating and set a $5,068.00 target price for the company in a report on Friday, April 23rd. Finally, KeyCorp initiated coverage on shares of NVR in a research report on Monday, March 1st. They set an “overweight” rating and a $5,450.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $5,273.20.
NVR (NYSE:NVR) last posted its earnings results on Tuesday, April 20th. The construction company reported $63.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $63.01 by $0.20. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.09 billion. NVR had a return on equity of 33.14% and a net margin of 12.16%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned $44.96 earnings per share. Equities analysts predict that NVR, Inc. will post 229.39 earnings per share for the current year.
NVR announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
NVR, Inc operates as a homebuilder in the United States. The company operates in two segments, Homebuilding and Mortgage Banking. It primarily constructs and sells 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.
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