BlackRock Inc. cut its holdings in shares of NVR, Inc. (NYSE:NVR) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,740 shares of the construction company’s stock after selling 15,930 shares during the period. BlackRock Inc. owned about 0.08% of NVR worth $1,391,232,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors acquired a new position in NVR during the 1st quarter worth $814,468,000. Diamond Hill Capital Management Inc. lifted its holdings in NVR by 3.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 118,565 shares of the construction company’s stock worth $589,659,000 after buying an additional 4,257 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in NVR by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 84,544 shares of the construction company’s stock worth $420,462,000 after buying an additional 544 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in NVR by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,333 shares of the construction company’s stock worth $147,608,000 after buying an additional 995 shares in the last quarter. Finally, Smead Capital Management Inc. lifted its holdings in NVR by 13.8% during the 2nd quarter. Smead Capital Management Inc. now owns 30,011 shares of the construction company’s stock worth $149,254,000 after buying an additional 3,645 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
Separately, Zacks Investment Research downgraded NVR from a “buy” rating to a “hold” rating and set a $5,217.00 price target on the stock. in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5,303.00.
NVR (NYSE:NVR) last posted its quarterly earnings results on Tuesday, July 20th. The construction company reported $82.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $72.43 by $10.02. NVR had a return on equity of 37.37% and a net margin of 13.51%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the business posted $42.50 EPS. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. Research analysts anticipate that NVR, Inc. will post 348.1 earnings per share for the current fiscal year.
NVR declared that its board has initiated a share buyback program on Wednesday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, Director Manuel H. Johnson sold 1,000 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $5,143.21, for a total value of $5,143,210.00. Following the completion of the sale, the director now owns 1,400 shares in the company, valued at approximately $7,200,494. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eugene James Bredow sold 300 shares of the company’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $5,260.00, for a total transaction of $1,578,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,392 shares of company stock valued at $7,205,130. 9.00% of the stock is owned by corporate insiders.
NVR Company Profile
NVR, Inc engages in the construction and sale of single-family detached homes, townhomes and condominium buildings. It operates through the following segments: Homebuilding and Mortgage Banking. The Homebuilding segment sells and builds homes under the trade names Ryan Homes, NVHomes, Fox Ridge Homes and Heartland Homes.
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