SummitTX Capital L.P. Takes $27.05 Million Position in NVR, Inc. $NVR

SummitTX Capital L.P. acquired a new position in NVR, Inc. (NYSE:NVR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,104 shares of the construction company’s stock, valued at approximately $27,045,000. NVR accounts for approximately 0.8% of SummitTX Capital L.P.’s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVR. DV Equities LLC bought a new position in NVR in the 4th quarter worth approximately $29,000. Strive Financial Group LLC bought a new stake in shares of NVR in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. bought a new stake in shares of NVR in the fourth quarter valued at approximately $36,000. State of Wyoming acquired a new stake in shares of NVR in the second quarter worth $44,000. Finally, USA Financial Formulas grew its stake in shares of NVR by 75.0% in the fourth quarter. USA Financial Formulas now owns 7 shares of the construction company’s stock worth $51,000 after acquiring an additional 3 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Stock Performance

NVR opened at $6,425.36 on Monday. The stock’s 50 day simple moving average is $6,370.66 and its 200-day simple moving average is $6,783.16. The company has a current ratio of 5.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27. The stock has a market cap of $17.34 billion, a PE ratio of 16.66, a P/E/G ratio of 16.46 and a beta of 0.90. NVR, Inc. has a 1 year low of $5,501.01 and a 1 year high of $8,618.28.

NVR (NYSE:NVR) last issued its earnings results on Thursday, July 23rd. The construction company reported $83.96 EPS for the quarter, topping the consensus estimate of $0.90 by $83.06. NVR had a return on equity of 31.02% and a net margin of 12.26%.The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $108.54 earnings per share. NVR’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that NVR, Inc. will post 371.11 EPS for the current year.

Key NVR News

Here are the key news stories impacting NVR this week:

• Negative Sentiment: NVR’s second-quarter results missed expectations on revenue and earnings, with EPS falling to $83.96 from $108.54 a year ago and revenue dropping about 10% as fewer settlements and lower pricing weighed on results. NVR, INC. ANNOUNCES SECOND QUARTER RESULTS
• Negative Sentiment: Homebuilding margin pressure was a key concern, with higher lot costs, pricing pressure, and contract land deposit impairments cutting profitability despite improved orders and backlog growth. NVR Q2 Earnings Miss Estimates on Margin Pressure, Stock Down
• Negative Sentiment: Truist Financial lowered its price target on NVR to $6,400 from $6,600 and kept a hold rating, signaling more cautious expectations for the shares. Benzinga
• Negative Sentiment: Zacks Research downgraded NVR to “strong sell” and trimmed several future earnings estimates, reinforcing concerns that near-term earnings momentum may stay weak. Zacks.com

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVR shares. Zacks Research lowered shares of NVR from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zelman & Associates upgraded shares of NVR from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. UBS Group set a $7,400.00 price objective on shares of NVR in a report on Friday. Finally, Seaport Research Partners reaffirmed a “sell” rating and set a $5,664.00 price objective on shares of NVR in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, NVR currently has a consensus rating of “Hold” and an average target price of $7,224.20.

About NVR

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.