Dock Street Asset Management Inc. Cuts Stake in NVR, Inc. (NYSE:NVR)

Dock Street Asset Management Inc. decreased its stake in NVR, Inc. (NYSE:NVR) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,837 shares of the construction company’s stock after selling 195 shares during the period. NVR makes up 1.8% of Dock Street Asset Management Inc.’s portfolio, making the stock its 18th biggest position. Dock Street Asset Management Inc.’s holdings in NVR were worth $15,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of NVR. Blue Trust Inc. purchased a new position in NVR in the third quarter valued at about $39,000. Rakuten Securities Inc. purchased a new position in shares of NVR during the 3rd quarter valued at approximately $39,000. Private Trust Co. NA grew its position in shares of NVR by 66.7% during the third quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after buying an additional 2 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of NVR in the third quarter worth $49,000. Finally, Quantbot Technologies LP bought a new stake in shares of NVR in the third quarter worth $59,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVR shares. UBS Group raised their price objective on shares of NVR from $8,750.00 to $8,900.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on NVR from $9,245.00 to $8,570.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Bank of America reduced their target price on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seaport Res Ptn downgraded NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, StockNews.com cut NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9,356.67.

NVR Price Performance

NVR opened at $7,736.93 on Friday. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $8,322.18 and its 200 day moving average price is $8,862.85. NVR, Inc. has a fifty-two week low of $7,227.09 and a fifty-two week high of $9,964.77. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 2.60 and a beta of 1.20.

NVR (NYSE:NVR) last announced its quarterly earnings results on Tuesday, February 4th. The construction company reported $139.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $132.63 by $7.30. NVR had a return on equity of 39.58% and a net margin of 16.34%. As a group, sell-side analysts expect that NVR, Inc. will post 512.33 earnings per share for the current year.

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

NVR Profile

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.