TIAA CREF Investment Management LLC grew its holdings in NVR, Inc. (NYSE:NVR) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,777 shares of the construction company’s stock after purchasing an additional 1,963 shares during the quarter. TIAA CREF Investment Management LLC owned 1.84% of NVR worth $237,777,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC purchased a new position in shares of NVR in the fourth quarter valued at approximately $133,000. Checchi Capital Advisers LLC purchased a new position in shares of NVR in the fourth quarter valued at approximately $200,000. Commerce Bank purchased a new position in shares of NVR in the fourth quarter valued at approximately $207,000. Assetmark Inc. purchased a new position in shares of NVR in the fourth quarter valued at approximately $210,000. Finally, Greenleaf Trust boosted its stake in shares of NVR by 1,120.0% in the fourth quarter. Greenleaf Trust now owns 61 shares of the construction company’s stock valued at $214,000 after purchasing an additional 56 shares during the period. 79.76% of the stock is owned by institutional investors and hedge funds.
In related news, Director Eddie Arthur Grier sold 400 shares of NVR stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $2,968.07, for a total value of $1,187,228.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Melquiades R. Martinez sold 47 shares of NVR stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $3,000.00, for a total transaction of $141,000.00. Following the completion of the transaction, the director now owns 178 shares of the company’s stock, valued at approximately $534,000. The disclosure for this sale can be found here. Insiders sold 1,097 shares of company stock valued at $3,373,063 in the last quarter. 11.30% of the stock is owned by insiders.
NVR (NYSE:NVR) last issued its quarterly earnings results on Thursday, January 25th. The construction company reported $43.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.95 by ($5.54). NVR had a return on equity of 38.72% and a net margin of 8.70%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned $37.80 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. equities research analysts forecast that NVR, Inc. will post 188.66 EPS for the current fiscal year.
NVR declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently commented on NVR shares. ValuEngine raised shares of NVR from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. UBS Group raised their price objective on shares of NVR from $3,450.00 to $3,750.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research lowered shares of NVR from a “buy” rating to a “hold” rating in a research note on Monday, March 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $3,064.50.
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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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