Legal & General Group Plc Increases Holdings in NVR, Inc. $NVR

Legal & General Group Plc lifted its holdings in NVR, Inc. (NYSE:NVR) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 21,381 shares of the construction company’s stock after buying an additional 759 shares during the quarter. Legal & General Group Plc’s holdings in NVR were worth $171,789,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming bought a new stake in NVR during the 2nd quarter valued at approximately $44,000. Zions Bancorporation National Association UT boosted its stake in NVR by 600.0% in the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company’s stock worth $56,000 after purchasing an additional 6 shares during the period. CYBER HORNET ETFs LLC bought a new position in NVR in the 2nd quarter worth approximately $59,000. Financial Gravity Companies Inc. purchased a new stake in NVR during the 2nd quarter valued at approximately $66,000. Finally, Assetmark Inc. grew its holdings in NVR by 50.0% during the 3rd quarter. Assetmark Inc. now owns 9 shares of the construction company’s stock valued at $72,000 after buying an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVR. Zelman & Associates raised shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 target price on the stock in a 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. Truist Financial started coverage on shares of NVR in a report on Wednesday, March 4th. They issued a “hold” rating and a $7,700.00 price target on the stock. BTIG Research assumed coverage on shares of NVR in a research note on Monday, December 1st. They issued a “buy” rating and a $9,022.00 price target on the stock. Finally, Wall Street Zen raised shares of NVR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8,182.83.

Insiders Place Their Bets

In other NVR news, Director Susan Williamson Ross sold 200 shares of NVR stock in a transaction on Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total value of $1,584,412.00. Following the completion of the transaction, the director directly owned 386 shares of the company’s stock, valued at $3,057,915.16. This trade represents a 34.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew B. Kelpy sold 500 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 1,120 shares of company stock worth $9,012,736. 7.00% of the stock is owned by insiders.

NVR Stock Performance

NYSE:NVR opened at $6,449.13 on Friday. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.25 and a beta of 1.04. NVR, Inc. has a 1 year low of $6,438.81 and a 1 year high of $8,618.28. The stock’s 50 day simple moving average is $7,500.91 and its two-hundred day simple moving average is $7,616.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.21 and a quick ratio of 3.71.

NVR (NYSE:NVR) last posted its earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, beating analysts’ consensus estimates of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company earned $139.93 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

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

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.