Kentucky Retirement Systems Has $1.38 Million Stock Holdings in NVR, Inc. (NYSE:NVR)

Kentucky Retirement Systems decreased its holdings in shares of NVR, Inc. (NYSE:NVR) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191 shares of the construction company’s stock after selling 21 shares during the quarter. Kentucky Retirement Systems’ holdings in NVR were worth $1,384,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of NVR during the first quarter worth $906,000. Clarius Group LLC acquired a new stake in shares of NVR during the first quarter worth $355,000. Janney Montgomery Scott LLC lifted its holdings in shares of NVR by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 1,078 shares of the construction company’s stock worth $7,809,000 after buying an additional 26 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of NVR during the first quarter worth $232,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of NVR by 19.4% during the first quarter. Exchange Traded Concepts LLC now owns 43 shares of the construction company’s stock worth $312,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Stock Down 0.8%

Shares of NYSE NVR opened at $7,283.39 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.02 and a current ratio of 5.37. NVR, Inc. has a 52 week low of $6,562.85 and a 52 week high of $9,964.77. The stock has a market capitalization of $21.27 billion, a P/E ratio of 14.99, a PEG ratio of 3.99 and a beta of 0.99. The stock’s fifty day moving average is $7,156.89 and its 200 day moving average is $7,510.39.

NVR (NYSE:NVR) last issued its quarterly earnings results on Tuesday, April 22nd. The construction company reported $94.83 EPS for the quarter, missing analysts’ consensus estimates of $107.87 by ($13.04). NVR had a return on equity of 38.32% and a net margin of 15.33%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.35 billion. Sell-side analysts forecast that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on NVR from $8,900.00 to $7,900.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised NVR from a “sell” rating to a “hold” rating in a report on Sunday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9,023.33.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.