JPMorgan Chase & Co. Has Lowered Expectations for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.26% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lowered their target price on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seaport Res Ptn cut NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, UBS Group lowered their price objective on shares of NVR from $9,450.00 to $8,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, NVR currently has an average rating of “Hold” and a consensus price target of $9,356.67.

NVR Stock Up 2.2 %

Shares of NYSE NVR opened at $8,141.64 on Wednesday. The business has a 50-day moving average price of $8,460.11 and a 200 day moving average price of $8,881.44. The stock has a market cap of $24.91 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.20. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. NVR has a 52-week low of $7,018.03 and a 52-week high of $9,964.77.

NVR (NYSE:NVR) last announced its earnings results on Tuesday, February 4th. The construction company reported $139.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $132.63 by $7.30. NVR had a net margin of 16.51% and a return on equity of 38.20%. Equities research analysts forecast that NVR will post 494.48 earnings per share for the current year.

NVR announced that its board has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Matthew B. Kelpy sold 400 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the transaction, the chief accounting officer now directly owns 208 shares of the company’s stock, valued at $1,965,600. This represents a 65.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Preiser sold 250 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the completion of the sale, the director now owns 239 shares of the company’s stock, valued at $2,223,330.96. This trade represents a 51.12 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVR

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of NVR in the third quarter valued at $39,000. JPMorgan Chase & Co. grew its stake in NVR by 18.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,920 shares of the construction company’s stock valued at $136,580,000 after acquiring an additional 2,206 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in NVR during the 4th quarter valued at about $1,235,000. Intech Investment Management LLC acquired a new position in NVR during the third quarter worth about $9,341,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of NVR by 11.0% in the third quarter. Brown Brothers Harriman & Co. now owns 2,514 shares of the construction company’s stock valued at $24,667,000 after purchasing an additional 250 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.