State of Michigan Retirement System Cuts Stock Position in NVR, Inc. (NYSE:NVR)

State of Michigan Retirement System lowered its holdings in NVR, Inc. (NYSE:NVR) by 9.6% during the 2nd quarter, Holdings Channel reports. The firm owned 946 shares of the construction company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in NVR were worth $7,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NVR. Principal Financial Group Inc. lifted its position in shares of NVR by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 52,451 shares of the construction company’s stock valued at $424,851,000 after buying an additional 191 shares during the last quarter. Norges Bank bought a new position in shares of NVR during the 4th quarter valued at about $246,031,000. Schroder Investment Management Group boosted its holdings in NVR by 3.1% during the 4th quarter. Schroder Investment Management Group now owns 32,140 shares of the construction company’s stock valued at $224,994,000 after acquiring an additional 963 shares during the period. Dimensional Fund Advisors LP boosted its holdings in NVR by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,877 shares of the construction company’s stock valued at $209,150,000 after acquiring an additional 781 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in NVR by 98.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 17,469 shares of the construction company’s stock valued at $141,498,000 after acquiring an additional 8,684 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at NVR

In other NVR news, CAO Matthew B. Kelpy sold 175 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $8,650.00, for a total transaction of $1,513,750.00. Following the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $1,989,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Alfred E. Festa sold 148 shares of NVR stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8,585.95, for a total transaction of $1,270,720.60. Following the completion of the transaction, the director now directly owns 173 shares of the company’s stock, valued at approximately $1,485,369.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Matthew B. Kelpy sold 175 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $8,650.00, for a total transaction of $1,513,750.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at approximately $1,989,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 648 shares of company stock valued at $5,547,709. 7.00% of the stock is currently owned by insiders.

NVR Trading Down 0.8 %

NYSE NVR opened at $9,076.03 on Wednesday. NVR, Inc. has a fifty-two week low of $5,210.49 and a fifty-two week high of $9,360.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.32 and a current ratio of 5.84. The stock has a 50 day simple moving average of $8,240.13 and a two-hundred day simple moving average of $7,862.55. The stock has a market cap of $28.44 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17.

NVR (NYSE:NVR) last posted its earnings results on Tuesday, July 23rd. The construction company reported $120.69 EPS for the quarter, missing analysts’ consensus estimates of $121.65 by ($0.96). The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.48 billion. NVR had a return on equity of 38.51% and a net margin of 16.83%. On average, analysts forecast that NVR, Inc. will post 499.77 earnings per share for the current year.

NVR declared that its board has approved a share buyback plan on Tuesday, May 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.