NVR Inc. (NVR) Raised to “Hold” at Zacks Investment Research
NVR Inc. (NYSE:NVR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “NVR Inc. is a holding company that operates in two business segments; the construction and marketing of homes and in financial services. NVR’s homebuilding operations construct and sell single-family detached homes, townhomes and condominium buildings in two distinct product lines through the two divisions known as Ryan Homes and NVHomes. NVR’s also provides financial services including a mortgage banking operation. NVR’s mortgage banking business generates revenues primarily from origination fees, servicing fees,gains on marketing of loans, title fees, and sales of servicing rights. “
Separately, Credit Suisse Group AG restated a “sell” rating on shares of NVR in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. NVR has a consensus rating of “Hold” and an average price target of $1,713.50.
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NVR (NYSE:NVR) opened at 1646.00 on Wednesday. NVR has a 12 month low of $1,462.02 and a 12 month high of $1,845.37. The firm has a market capitalization of $6.41 billion, a PE ratio of 16.99 and a beta of 0.50. The firm’s 50-day moving average is $1,684.72 and its 200-day moving average is $1,709.56.
NVR (NYSE:NVR) last posted its quarterly earnings data on Thursday, July 21st. The company reported $22.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $26.00 by $3.99. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. NVR had a return on equity of 32.00% and a net margin of 7.53%. On average, equities research analysts expect that NVR will post $102.08 EPS for the current year.
In other news, Director Manuel H. Johnson sold 121 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $1,699.19, for a total value of $205,601.99. Following the transaction, the director now owns 400 shares in the company, valued at approximately $679,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Grady Rosier sold 729 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $1,728.71, for a total value of $1,260,229.59. Following the completion of the transaction, the director now owns 4,153 shares in the company, valued at approximately $7,179,332.63. The disclosure for this sale can be found here. 10.20% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of NVR. Riverhead Capital Management LLC increased its position in shares of NVR by 5,499.1% in the second quarter. Riverhead Capital Management LLC now owns 44,121 shares of the company’s stock worth $1,192,000 after buying an additional 43,333 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of NVR by 142.8% in the second quarter. Victory Capital Management Inc. now owns 59,876 shares of the company’s stock worth $106,599,000 after buying an additional 35,218 shares in the last quarter. Norges Bank acquired a new position in shares of NVR during the fourth quarter worth $56,845,000. Canada Pension Plan Investment Board increased its position in shares of NVR by 57.6% in the second quarter. Canada Pension Plan Investment Board now owns 67,250 shares of the company’s stock worth $119,728,000 after buying an additional 24,590 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of NVR during the second quarter worth $33,061,000. Institutional investors own 82.50% of the company’s stock.
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company also operates a mortgage banking and title services business. The Company’s mortgage banking operations are operated primarily through a subsidiary, NVR Mortgage Finance, Inc (NVRM).
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