State of New Jersey Common Pension Fund D Lowers Position in NVR, Inc. (NYSE:NVR)

State of New Jersey Common Pension Fund D cut its holdings in NVR, Inc. (NYSE:NVR) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,080 shares of the construction company’s stock after selling 54 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NVR were worth $8,833,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in shares of NVR during the third quarter valued at about $39,000. Peak Financial Advisors LLC purchased a new stake in shares of NVR during the fourth quarter valued at about $1,235,000. JPMorgan Chase & Co. lifted its position 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 buying an additional 2,206 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of NVR during the third quarter valued at about $9,341,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of NVR by 11.0% during the third quarter. Brown Brothers Harriman & Co. now owns 2,514 shares of the construction company’s stock valued at $24,667,000 after buying an additional 250 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVR news, Director Thomas D. Eckert sold 143 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $7,515.60, for a total transaction of $1,074,730.80. Following the completion of the transaction, the director now directly owns 1,050 shares of the company’s stock, valued at approximately $7,891,380. This trade represents a 11.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.00% of the stock is currently owned by insiders.

NVR Stock Down 1.8 %

NVR stock opened at $7,236.24 on Wednesday. The firm has a 50 day moving average of $8,054.64 and a 200 day moving average of $8,800.81. The stock has a market capitalization of $22.14 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.51 and a beta of 1.20. 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, Inc. has a 52 week low of $7,192.17 and a 52 week high of $9,964.77.

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

NVR declared that its board has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

NVR has been the subject of several analyst reports. Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. Bank of America decreased their price target on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of NVR from $9,245.00 to $8,570.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group lifted their target price on shares of NVR from $8,750.00 to $8,900.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9,356.67.

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.