TD Asset Management Inc Reduces Holdings in NVR, Inc. $NVR

TD Asset Management Inc reduced its position in NVR, Inc. (NYSE:NVR) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,405 shares of the construction company’s stock after selling 2,268 shares during the period. TD Asset Management Inc owned approximately 0.65% of NVR worth $147,878,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of NVR by 4.0% during the third quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company’s stock worth $484,546,000 after purchasing an additional 2,331 shares during the last quarter. Nordea Investment Management AB raised its stake in NVR by 262.2% during the third quarter. Nordea Investment Management AB now owns 938 shares of the construction company’s stock valued at $7,522,000 after buying an additional 679 shares in the last quarter. iA Global Asset Management Inc. bought a new position in NVR during the 3rd quarter worth approximately $691,000. Envestnet Asset Management Inc. grew its position in shares of NVR by 2.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 9,730 shares of the construction company’s stock worth $78,178,000 after acquiring an additional 203 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in shares of NVR in the 3rd quarter valued at approximately $51,896,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on NVR. Zelman & Associates raised NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a research report on Thursday, January 29th. UBS Group set a $8,100.00 target price on shares of NVR in a research note on Friday, February 13th. BTIG Research initiated coverage on shares of NVR in a research report on Monday, December 1st. They issued a “buy” rating and a $9,022.00 price target on the stock. Wall Street Zen raised shares of NVR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NVR has an average rating of “Moderate Buy” and a consensus target price of $8,279.40.

Insiders Place Their Bets

In other news, Director Susan Williamson Ross sold 220 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the completion of the transaction, the director owned 386 shares of the company’s stock, valued at approximately $3,088,000. This represents a 36.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Matthew B. Kelpy sold 500 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total value of $4,050,000.00. Following the transaction, the chief accounting officer directly owned 208 shares in the company, valued at $1,684,800. This trade represents a 70.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,120 shares of company stock valued at $9,012,736 in the last quarter. 7.00% of the stock is currently owned by insiders.

NVR Price Performance

NYSE NVR opened at $7,280.68 on Thursday. The company has a 50-day moving average price of $7,568.99 and a two-hundred day moving average price of $7,693.20. NVR, Inc. has a 52 week low of $6,562.85 and a 52 week high of $8,618.28. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.58 and a beta of 1.03. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR) last issued its quarterly earnings data on Wednesday, January 28th. The construction company reported $121.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $139.93 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. Analysts forecast that NVR, Inc. will post 505.2 EPS for the current year.

NVR announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

NVR Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.