Convergence Investment Partners LLC Raises Stock Holdings in NVR, Inc. (NYSE:NVR)

Convergence Investment Partners LLC raised its position in NVR, Inc. (NYSE:NVR) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61 shares of the construction company’s stock after purchasing an additional 6 shares during the period. Convergence Investment Partners LLC’s holdings in NVR were worth $499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVR. International Assets Investment Management LLC lifted its stake in shares of NVR by 1,100,012.1% during the third quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock valued at $3,562,046,000 after buying an additional 363,004 shares during the period. Jennison Associates LLC purchased a new position in shares of NVR during the 3rd quarter worth $348,545,000. Mizuho Securities USA LLC lifted its stake in shares of NVR by 6,454.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 16,518 shares of the construction company’s stock worth $162,071,000 after purchasing an additional 16,266 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of NVR by 254.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,867 shares of the construction company’s stock worth $87,001,000 after purchasing an additional 6,363 shares during the period. Finally, KBC Group NV lifted its stake in shares of NVR by 299.9% during the 3rd quarter. KBC Group NV now owns 5,622 shares of the construction company’s stock worth $55,162,000 after purchasing an additional 4,216 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVR has been the topic of several recent analyst reports. 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 research report on Wednesday, October 23rd. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group increased 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. cut their price target on shares of NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Seaport Res Ptn downgraded shares of NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9,356.67.

Insider Activity

In other NVR news, Director Thomas D. Eckert sold 143 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $7,515.60, for a total value of $1,074,730.80. Following the transaction, the director now directly owns 1,050 shares of the company’s stock, valued at $7,891,380. This trade represents a 11.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 7.00% of the company’s stock.

NVR Stock Performance

NVR stock opened at $7,157.78 on Thursday. NVR, Inc. has a 12 month low of $7,073.38 and a 12 month high of $9,964.77. The stock’s 50-day moving average is $8,020.82 and its 200-day moving average is $8,789.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.18 and a quick ratio of 3.69. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

NVR (NYSE:NVR) last posted its quarterly earnings results on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, beating the consensus estimate of $132.63 by $7.30. NVR had a net margin of 16.34% and a return on equity of 39.67%. Equities analysts anticipate that NVR, Inc. will post 512.33 earnings per share for the current year.

NVR declared that its board has authorized a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.