Cornerstone Capital Management Holdings LLC. decreased its stake in shares of NVR, Inc. (NYSE:NVR) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,284 shares of the construction company’s stock after selling 272 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.20% of NVR worth $25,553,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of NVR. Raymond James Financial Services Advisors Inc. lifted its holdings in NVR by 14.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,290 shares of the construction company’s stock worth $3,683,000 after purchasing an additional 165 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in NVR by 8.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 509 shares of the construction company’s stock worth $1,453,000 after purchasing an additional 39 shares in the last quarter. Stevens Capital Management LP purchased a new stake in NVR during the 3rd quarter worth about $520,000. State of Wisconsin Investment Board lifted its holdings in NVR by 14.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 3,387 shares of the construction company’s stock worth $9,670,000 after purchasing an additional 415 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in NVR by 1.5% during the 3rd quarter. Swiss National Bank now owns 13,170 shares of the construction company’s stock worth $37,600,000 after purchasing an additional 190 shares in the last quarter. 79.76% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. UBS Group increased their price objective on NVR from $3,450.00 to $3,750.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research raised NVR from a “hold” rating to a “buy” rating and set a $3,218.00 price objective on the stock in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. NVR currently has a consensus rating of “Hold” and a consensus target price of $3,064.50.
NVR (NYSE:NVR) last announced its earnings results on Thursday, January 25th. The construction company reported $43.41 earnings per share for the quarter, missing analysts’ consensus estimates of $48.95 by ($5.54). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.01 billion. NVR had a return on equity of 38.72% and a net margin of 8.70%. NVR’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $37.80 earnings per share. equities analysts predict that NVR, Inc. will post 188.66 earnings per share for the current fiscal year.
NVR declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other NVR news, Director Eddie Arthur Grier sold 400 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $2,968.07, for a total value of $1,187,228.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Melquiades R. Martinez sold 47 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $3,000.00, for a total value of $141,000.00. Following the completion of the transaction, the director now owns 178 shares in the company, valued at $534,000. The disclosure for this sale can be found here. Insiders sold a total of 1,097 shares of company stock worth $3,373,063 over the last 90 days. Corporate insiders own 11.30% of the company’s stock.
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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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