NVR, Inc. (NVR) Issues Quarterly Earnings Results
NVR, Inc. (NYSE:NVR) announced its quarterly earnings results on Friday. The construction company reported $35.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $28.63 by $6.56, MarketWatch Earnings reports. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. NVR had a return on equity of 38.82% and a net margin of 8.67%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $22.01 earnings per share.
NVR (NYSE NVR) traded up 0.13% during midday trading on Monday, hitting $2652.02. The stock had a trading volume of 3,415 shares. The company’s 50-day moving average price is $2,439.94 and its 200 day moving average price is $2,114.66. NVR has a 12-month low of $1,478.04 and a 12-month high of $2,679.86. The stock has a market cap of $9.94 billion, a P/E ratio of 20.98 and a beta of 0.65.
Several equities research analysts have commented on the company. Zacks Investment Research lowered NVR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. ValuEngine upgraded NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Zelman & Associates lowered NVR from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $2,690.00 target price (up previously from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $2,708.00.
In other news, CEO Paul C. Saville sold 3,884 shares of NVR stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $2,095.08, for a total value of $8,137,290.72. Following the transaction, the chief executive officer now directly owns 120,292 shares in the company, valued at $252,021,363.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Elliott Andrews sold 1,764 shares of NVR stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $2,103.21, for a total value of $3,710,062.44. Following the completion of the transaction, the director now owns 2,902 shares in the company, valued at $6,103,515.42. The disclosure for this sale can be found here. Insiders sold 13,391 shares of company stock valued at $28,831,017 in the last ninety days. Insiders own 11.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. APG Asset Management N.V. acquired a new position in NVR during the second quarter worth approximately $964,000. Oakbrook Investments LLC raised its position in NVR by 4.0% in the second quarter. Oakbrook Investments LLC now owns 260 shares of the construction company’s stock worth $627,000 after buying an additional 10 shares during the last quarter. US Bancorp DE raised its position in NVR by 88.0% in the second quarter. US Bancorp DE now owns 47 shares of the construction company’s stock worth $113,000 after buying an additional 22 shares during the last quarter. State Treasurer State of Michigan raised its position in NVR by 7.3% in the second quarter. State Treasurer State of Michigan now owns 1,464 shares of the construction company’s stock worth $3,529,000 after buying an additional 100 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in NVR by 231.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,889 shares of the construction company’s stock worth $4,554,000 after buying an additional 1,319 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.
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NVR Company Profile
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).
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