Gabelli Funds LLC Lowers Stock Holdings in NVR, Inc. (NYSE:NVR)

Gabelli Funds LLC lowered its holdings in shares of NVR, Inc. (NYSE:NVR) by 5.5% during the second quarter, HoldingsChannel.com reports. The firm owned 1,765 shares of the construction company’s stock after selling 103 shares during the period. Gabelli Funds LLC’s holdings in NVR were worth $11,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Carlson Capital L P acquired a new position in shares of NVR during the second quarter valued at approximately $13,654,000. Edgestream Partners L.P. raised its holdings in shares of NVR by 6.6% during the second quarter. Edgestream Partners L.P. now owns 788 shares of the construction company’s stock valued at $5,004,000 after acquiring an additional 49 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in shares of NVR by 1.7% in the second quarter. Personal CFO Solutions LLC now owns 120 shares of the construction company’s stock valued at $762,000 after purchasing an additional 2 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of NVR by 19.6% in the second quarter. Russell Investments Group Ltd. now owns 5,862 shares of the construction company’s stock valued at $37,189,000 after purchasing an additional 959 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of NVR in the second quarter valued at approximately $5,252,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com assumed coverage on NVR in a report on Thursday, October 5th. They issued a “hold” rating for the company. Bank of America increased their price target on NVR from $6,500.00 to $7,200.00 in a report on Wednesday, July 26th.

Insider Buying and Selling

In other NVR news, CEO Eugene James Bredow sold 687 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $5,711.73, for a total value of $3,923,958.51. Following the sale, the chief executive officer now directly owns 1,851 shares in the company, valued at $10,572,412.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Eugene James Bredow sold 687 shares of NVR stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $5,711.73, for a total transaction of $3,923,958.51. Following the sale, the chief executive officer now owns 1,851 shares in the company, valued at $10,572,412.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel David Malzahn sold 1,123 shares of NVR stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $5,500.70, for a total value of $6,177,286.10. Following the sale, the chief financial officer now owns 11,450 shares in the company, valued at approximately $62,983,015. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,666 shares of company stock worth $27,777,513. Company insiders own 8.60% of the company’s stock.

NVR Trading Up 0.1 %

Shares of NVR stock opened at $6,307.12 on Tuesday. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 13.27 and a beta of 1.04. NVR, Inc. has a fifty-two week low of $4,308.05 and a fifty-two week high of $6,525.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.03 and a current ratio of 6.45. The stock has a 50 day moving average of $5,910.02 and a 200 day moving average of $6,025.59.

NVR (NYSE:NVR) last issued its quarterly earnings data on Tuesday, October 24th. The construction company reported $125.26 earnings per share for the quarter, topping the consensus estimate of $115.60 by $9.66. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.59 billion. NVR had a return on equity of 41.75% and a net margin of 17.05%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $118.51 earnings per share. As a group, research analysts predict that NVR, Inc. will post 463.01 earnings per share for the current year.

NVR declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is 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.