Elgethun Capital Management Lowers Holdings in NVR, Inc. (NYSE:NVR)

Elgethun Capital Management reduced its stake in NVR, Inc. (NYSE:NVR) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 589 shares of the construction company’s stock after selling 332 shares during the period. NVR makes up 1.2% of Elgethun Capital Management’s portfolio, making the stock its 25th biggest position. Elgethun Capital Management’s holdings in NVR were worth $4,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Peak Financial Advisors LLC bought a new position in shares of NVR in the fourth quarter worth approximately $1,235,000. JPMorgan Chase & Co. boosted 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. OLD Mission Capital LLC bought a new stake in NVR in the 4th quarter worth about $1,701,000. Charles Schwab Investment Management Inc. raised its position in NVR by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,940 shares of the construction company’s stock worth $171,266,000 after buying an additional 644 shares during the last quarter. Finally, Markel Group Inc. lifted its stake in NVR by 0.9% during the 4th quarter. Markel Group Inc. now owns 11,814 shares of the construction company’s stock valued at $96,626,000 after acquiring an additional 110 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVR. 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 research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9,356.67.

NVR Stock Performance

NYSE:NVR opened at $7,413.38 on Monday. The company has a current ratio of 6.18, a quick ratio of 3.69 and a debt-to-equity ratio of 0.22. NVR, Inc. has a 12-month low of $7,000.00 and a 12-month high of $9,964.77. The stock has a 50-day moving average price of $7,407.03 and a 200 day moving average price of $8,412.35. The stock has a market capitalization of $22.01 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.39 and a beta of 1.07.

NVR (NYSE:NVR) last released its earnings results on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, beating analysts’ consensus estimates of $132.63 by $7.30. NVR had a return on equity of 39.67% and a net margin of 16.34%. Equities research analysts forecast that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its board has initiated a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVR

In other NVR news, Director Thomas D. Eckert sold 143 shares of NVR 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 sale, the director now directly owns 1,050 shares in the company, valued at approximately $7,891,380. The trade was a 11.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.80% of the company’s stock.

NVR 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.