Engineers Gate Manager LP reduced its holdings in NVR, Inc. (NYSE:NVR) by 40.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 856 shares of the construction company’s stock after selling 587 shares during the period. Engineers Gate Manager LP’s holdings in NVR were worth $2,115,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in NVR in the 2nd quarter worth about $109,000. Cerebellum GP LLC lifted its stake in NVR by 57.8% in the 3rd quarter. Cerebellum GP LLC now owns 71 shares of the construction company’s stock worth $175,000 after acquiring an additional 26 shares in the last quarter. WealthPLAN Partners LLC purchased a new stake in NVR in the 2nd quarter worth about $220,000. Moneta Group Investment Advisors LLC lifted its stake in NVR by 102.6% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 79 shares of the construction company’s stock worth $235,000 after acquiring an additional 40 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in NVR in the 2nd quarter worth about $295,000. 77.52% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Robert W. Henley sold 14,850 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $2,145.61, for a total transaction of $31,862,308.50. Following the completion of the sale, the insider now directly owns 4,500 shares of the company’s stock, valued at approximately $9,655,245. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert W. Henley sold 4,203 shares of the firm’s stock in a transaction dated Thursday, October 25th. The stock was sold at an average price of $2,131.63, for a total value of $8,959,240.89. Following the sale, the insider now directly owns 797 shares of the company’s stock, valued at $1,698,909.11. The disclosure for this sale can be found here. Insiders have sold a total of 22,053 shares of company stock valued at $48,606,919 over the last ninety days. Company insiders own 12.00% of the company’s stock.
NVR opened at $2,339.89 on Wednesday. NVR, Inc. has a fifty-two week low of $2,040.71 and a fifty-two week high of $3,700.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 1.53. The stock has a market cap of $8.16 billion, a PE ratio of 16.53, a PEG ratio of 0.87 and a beta of 0.62.
NVR (NYSE:NVR) last posted its quarterly earnings results on Thursday, October 18th. The construction company reported $48.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $50.94 by ($2.66). NVR had a return on equity of 47.30% and a net margin of 10.10%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $38.02 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that NVR, Inc. will post 185.25 EPS for the current fiscal year.
NVR announced that its board has authorized a share buyback program on Wednesday, August 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the construction company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts recently issued reports on NVR shares. ValuEngine downgraded NVR from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. Zacks Investment Research downgraded NVR from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. reissued a “$2,892.50” rating and issued a $3,100.00 price objective (down from $3,450.00) on shares of NVR in a research note on Monday, July 23rd. Wells Fargo & Co reissued a “market perform” rating and issued a $2,410.00 price objective (down from $3,780.00) on shares of NVR in a research note on Friday, October 19th. Finally, MKM Partners reduced their price objective on NVR to $3,100.00 and set a “neutral” rating for the company in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $3,104.33.
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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.
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