CIBC Asset Management Inc boosted its position in shares of NVR, Inc. (NYSE:NVR) by 5.2% during the 1st quarter, HoldingsChannel reports. The firm owned 224 shares of the construction company’s stock after buying an additional 11 shares during the quarter. CIBC Asset Management Inc’s holdings in NVR were worth $620,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NVR by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 688 shares of the construction company’s stock valued at $1,904,000 after acquiring an additional 5 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of NVR by 4.4% during the 4th quarter. Advisory Services Network LLC now owns 191 shares of the construction company’s stock valued at $465,000 after acquiring an additional 8 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of NVR by 5.2% during the 4th quarter. IFM Investors Pty Ltd now owns 202 shares of the construction company’s stock valued at $492,000 after acquiring an additional 10 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of NVR by 9.3% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 117 shares of the construction company’s stock valued at $324,000 after acquiring an additional 10 shares in the last quarter. Finally, Advisor Partners LLC grew its holdings in shares of NVR by 10.5% during the 4th quarter. Advisor Partners LLC now owns 116 shares of the construction company’s stock valued at $283,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.
Several equities analysts have recently commented on the stock. Wells Fargo & Co set a $3,500.00 price target on shares of NVR and gave the company a “market perform” rating in a report on Tuesday, April 23rd. Zacks Investment Research upgraded shares of NVR from a “hold” rating to a “strong-buy” rating and set a $3,547.00 price target on the stock in a report on Monday, April 22nd. Finally, Buckingham Research boosted their price target on shares of NVR from $3,030.00 to $3,410.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $3,251.17.
In other NVR news, Director Alexandra A. Jung acquired 70 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of $3,285.00 per share, for a total transaction of $229,950.00. Following the completion of the acquisition, the director now owns 95 shares of the company’s stock, valued at approximately $312,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul C. Saville sold 2,700 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $3,300.50, for a total transaction of $8,911,350.00. Following the completion of the sale, the chief executive officer now owns 113,470 shares of the company’s stock, valued at $374,507,735. The disclosure for this sale can be found here. Insiders sold 21,370 shares of company stock valued at $70,065,688 over the last quarter. 11.10% of the stock is currently owned by corporate insiders.
NVR stock opened at $3,272.72 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 4.04. NVR, Inc. has a 12 month low of $2,040.71 and a 12 month high of $3,381.98. The firm has a market cap of $11.76 billion, a PE ratio of 16.80, a P/E/G ratio of 1.56 and a beta of 0.72.
NVR (NYSE:NVR) last issued its quarterly earnings data on Monday, April 22nd. The construction company reported $47.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $34.45 by $13.19. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.48 billion. NVR had a net margin of 11.45% and a return on equity of 46.85%. NVR’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $39.34 earnings per share. As a group, equities analysts expect that NVR, Inc. will post 198.36 earnings per share for the current fiscal year.
NVR announced that its Board of Directors has initiated a share buyback program on Thursday, May 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells 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.
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