NVR, Inc. (NVR) Posts Earnings Results, Beats Estimates By $6.30 EPS
NVR, Inc. (NYSE:NVR) posted its quarterly earnings results on Friday. The construction company reported $35.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $28.89 by $6.30, MarketWatch Earnings reports. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.57 billion. NVR had a return on equity of 34.48% and a net margin of 7.90%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $22.01 EPS.
NVR (NVR) traded up 8.22% on Friday, hitting $2648.45. The stock had a trading volume of 91,262 shares. The company’s 50 day moving average is $2,439.94 and its 200-day moving average is $2,114.66. NVR has a 1-year low of $1,478.04 and a 1-year high of $2,660.32. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.43 and a beta of 0.66.
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A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded NVR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and issued a $2,690.00 price target (up previously from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, Zelman & Associates downgraded NVR from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. NVR has a consensus rating of “Buy” and an average target price of $2,708.00.
In related news, Director Eddie Arthur Grier sold 325 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $2,283.55, for a total value of $742,153.75. Following the sale, the director now owns 500 shares of the company’s stock, valued at $1,141,775. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan Williamson Ross bought 30 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $2,253.43 per share, for a total transaction of $67,602.90. Following the acquisition, the director now owns 30 shares of the company’s stock, valued at $67,602.90. The disclosure for this purchase can be found here. In the last three months, insiders sold 18,257 shares of company stock worth $39,023,767. 11.30% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Advisors Capital Management LLC raised its position in NVR by 105.2% in the first quarter. Advisors Capital Management LLC now owns 3,853 shares of the construction company’s stock valued at $385,000 after buying an additional 1,975 shares during the last quarter. James Investment Research Inc. purchased a new position in NVR during the first quarter valued at about $158,000. Retirement Systems of Alabama raised its position in NVR by 2.7% in the first quarter. Retirement Systems of Alabama now owns 7,576 shares of the construction company’s stock valued at $15,962,000 after buying an additional 197 shares during the last quarter. Huntington National Bank raised its position in NVR by 1,325.0% in the first quarter. Huntington National Bank now owns 57 shares of the construction company’s stock valued at $120,000 after buying an additional 53 shares during the last quarter. Finally, Cim LLC raised its position in NVR by 6.1% in the first quarter. Cim LLC now owns 278 shares of the construction company’s stock valued at $586,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.
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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