Bank of America Cuts NVR (NYSE:NVR) Price Target to $10,600.00

NVR (NYSE:NVR) had its target price trimmed by Bank of America from $10,800.00 to $10,600.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Separately, UBS Group increased their price objective on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a report on Wednesday.

NVR Stock Performance

NYSE:NVR opened at $9,329.74 on Wednesday. The stock has a market capitalization of $28.74 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. NVR has a 1 year low of $5,326.16 and a 1 year high of $9,964.77. The firm has a 50 day moving average of $9,401.06 and a 200-day moving average of $8,385.46. The company has a current ratio of 5.84, a quick ratio of 3.32 and a debt-to-equity ratio of 0.22.

NVR (NYSE:NVR) last issued its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $131.00 by ($0.50). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. NVR had a net margin of 16.51% and a return on equity of 38.18%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $125.26 EPS. As a group, sell-side analysts anticipate that NVR will post 500.28 EPS for the current fiscal year.

Insider Activity at NVR

In other NVR news, CAO Matthew B. Kelpy sold 200 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $8,500.00, for a total value of $1,700,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at approximately $1,955,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVR news, CAO Matthew B. Kelpy sold 200 shares of NVR stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $8,500.00, for a total value of $1,700,000.00. Following the transaction, the chief accounting officer now owns 230 shares of the company’s stock, valued at approximately $1,955,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alfred E. Festa sold 148 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8,585.95, for a total transaction of $1,270,720.60. Following the sale, the director now directly owns 173 shares of the company’s stock, valued at $1,485,369.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVR

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of NVR by 1.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,560 shares of the construction company’s stock worth $44,791,000 after acquiring an additional 71 shares in the last quarter. Assenagon Asset Management S.A. grew its position in NVR by 3,377.8% in the second quarter. Assenagon Asset Management S.A. now owns 2,504 shares of the construction company’s stock valued at $19,002,000 after purchasing an additional 2,432 shares in the last quarter. Sei Investments Co. increased its stake in NVR by 89.6% in the 1st quarter. Sei Investments Co. now owns 2,653 shares of the construction company’s stock valued at $21,489,000 after buying an additional 1,254 shares during the last quarter. Swedbank AB bought a new stake in NVR during the 1st quarter worth about $931,000. Finally, Jane Street Group LLC boosted its stake in shares of NVR by 1,285.4% during the 1st quarter. Jane Street Group LLC now owns 568 shares of the construction company’s stock worth $4,601,000 after buying an additional 527 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.