Citadel Advisors LLC Grows Stock Position in NVR, Inc. $NVR

Citadel Advisors LLC raised its position in NVR, Inc. (NYSE:NVR) by 318.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,215 shares of the construction company’s stock after buying an additional 14,623 shares during the quarter. Citadel Advisors LLC owned about 0.68% of NVR worth $154,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in NVR in the 2nd quarter valued at about $268,447,000. Close Asset Management Ltd bought a new position in NVR during the third quarter worth about $148,939,000. Capital Research Global Investors boosted its position in NVR by 8.0% during the third quarter. Capital Research Global Investors now owns 133,003 shares of the construction company’s stock worth $1,068,634,000 after purchasing an additional 9,877 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of NVR by 844.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 8,321 shares of the construction company’s stock worth $66,856,000 after purchasing an additional 7,440 shares in the last quarter. Finally, Symphony Financial Ltd. Co. purchased a new position in shares of NVR in the second quarter worth about $54,548,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

NVR Stock Performance

NYSE:NVR opened at $6,567.33 on Tuesday. The stock has a market cap of $18.32 billion, a P/E ratio of 15.02, a PEG ratio of 2.20 and a beta of 1.04. The company has a quick ratio of 3.71, a current ratio of 6.21 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $7,469.62 and its two-hundred day moving average price is $7,587.86. NVR, Inc. has a twelve month low of $6,368.70 and a twelve month high of $8,618.28.

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

NVR announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Susan Williamson Ross sold 220 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the transaction, the director owned 386 shares of the company’s stock, valued at $3,088,000. This represents a 36.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $4,050,000.00. Following 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 position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,120 shares of company stock valued at $9,012,736. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group set a $8,100.00 price target on shares of NVR in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. 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. Truist Financial assumed coverage on NVR in a report on Wednesday, March 4th. They issued a “hold” rating and a $7,700.00 price target for the company. Finally, Wall Street Zen raised NVR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One 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’s stock. Based on data from MarketBeat, NVR has an average rating of “Hold” and an average target price of $8,182.83.

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.