Covey Capital Advisors LLC Reduces Holdings in NVR, Inc. (NYSE:NVR)

Covey Capital Advisors LLC lowered its holdings in shares of NVR, Inc. (NYSE:NVR) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 149 shares of the construction company’s stock after selling 8 shares during the quarter. NVR comprises about 1.6% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Covey Capital Advisors LLC’s holdings in NVR were worth $1,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its position in shares of NVR by 100.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock worth $39,000 after purchasing an additional 2 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of NVR in the third quarter worth $39,000. Rakuten Securities Inc. purchased a new stake in shares of NVR in the third quarter valued at $39,000. Redwood Wealth Management Group LLC acquired a new stake in shares of NVR during the second quarter valued at $46,000. Finally, Private Trust Co. NA increased its position in NVR by 66.7% during the 3rd quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after purchasing an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 125 shares of NVR stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $9,507.30, for a total value of $1,188,412.50. Following the transaction, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $2,186,679. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David A. Preiser sold 250 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the sale, the director now owns 239 shares of the company’s stock, valued at $2,223,330.96. The trade was a 51.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 775 shares of company stock valued at $7,294,073 in the last ninety days. Company insiders own 7.00% of the company’s stock.

NVR Trading Down 0.3 %

NYSE NVR opened at $9,193.62 on Friday. The company has a market cap of $28.13 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.97 and a beta of 1.20. NVR, Inc. has a 12 month low of $6,052.58 and a 12 month high of $9,964.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54. The company has a 50-day moving average of $9,409.77 and a 200-day moving average of $8,627.41.

NVR (NYSE:NVR) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $130.50 EPS for the quarter, missing the consensus estimate of $131.00 by ($0.50). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. NVR had a return on equity of 38.20% and a net margin of 16.51%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $125.26 EPS. As a group, equities analysts predict that NVR, Inc. will post 494.48 earnings per share for the current year.

Wall Street Analyst Weigh In

NVR has been the topic of a number of recent research reports. Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lowered their target price on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group increased their price target on NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. 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, the stock currently has a consensus rating of “Hold” and an average target price of $8,783.33.

NVR Company 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.