JPMorgan Chase & Co. Has Lowered Expectations for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR) had its target price cut by JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research firms have also weighed in on NVR. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America cut their price target on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group decreased their target price on NVR from $9,450.00 to $8,750.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, NVR presently has an average rating of “Hold” and a consensus target price of $9,356.67.

NVR Stock Performance

NYSE:NVR opened at $7,983.06 on Wednesday. The firm has a market capitalization of $24.43 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.67 and a beta of 1.20. NVR has a twelve month low of $7,018.03 and a twelve month high of $9,964.77. The company has a fifty day moving average of $8,477.09 and a 200-day moving average of $8,886.61. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, February 4th. The construction company reported $139.93 earnings per share for the quarter, beating the consensus estimate of $132.63 by $7.30. NVR had a net margin of 16.51% and a return on equity of 38.20%. As a group, sell-side analysts anticipate that NVR will post 494.48 EPS for the current year.

NVR announced that its board has initiated a stock buyback plan on Wednesday, December 11th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at NVR

In other NVR news, Director David A. Preiser sold 250 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the completion of the sale, the director now directly owns 239 shares in the company, valued at $2,223,330.96. This represents a 51.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $9,450.00, for a total value of $3,780,000.00. Following the sale, the chief accounting officer now owns 208 shares of the company’s stock, valued at $1,965,600. This represents a 65.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in NVR during the 3rd quarter valued at about $39,000. JPMorgan Chase & Co. lifted its holdings in shares of NVR by 18.8% during the third quarter. JPMorgan Chase & Co. now owns 13,920 shares of the construction company’s stock valued at $136,580,000 after purchasing an additional 2,206 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of NVR in the fourth quarter worth $1,235,000. Intech Investment Management LLC purchased a new position in NVR in the third quarter worth about $9,341,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of NVR by 11.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,514 shares of the construction company’s stock worth $24,667,000 after purchasing an additional 250 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.