Summit Global Investments Lowers Position in NVR, Inc. (NYSE:NVR)

Summit Global Investments reduced its position in shares of NVR, Inc. (NYSE:NVR) by 23.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 917 shares of the construction company’s stock after selling 276 shares during the period. Summit Global Investments’ holdings in NVR were worth $6,959,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NVR. Norges Bank purchased a new position in shares of NVR during the 4th quarter worth approximately $246,031,000. Acadian Asset Management LLC lifted its holdings in NVR by 321.1% in the first quarter. Acadian Asset Management LLC now owns 14,371 shares of the construction company’s stock valued at $116,389,000 after acquiring an additional 10,958 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of NVR by 98.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 17,469 shares of the construction company’s stock worth $141,498,000 after purchasing an additional 8,684 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of NVR by 108.3% during the 1st quarter. Russell Investments Group Ltd. now owns 12,147 shares of the construction company’s stock worth $98,215,000 after purchasing an additional 6,315 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of NVR by 27.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 13,343 shares of the construction company’s stock worth $93,407,000 after purchasing an additional 2,884 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. UBS Group boosted their price target on NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th.

Insider Activity at NVR

In related news, CAO Matthew B. Kelpy sold 200 shares of NVR stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $8,500.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chief accounting officer now owns 230 shares in the company, valued at approximately $1,955,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Matthew B. Kelpy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $8,500.00, for a total transaction of $1,700,000.00. Following the sale, the chief accounting officer now owns 230 shares in the company, valued at $1,955,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alfred E. Festa sold 148 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $8,585.95, for a total value of $1,270,720.60. Following the completion of the transaction, the director now owns 173 shares of the company’s stock, valued at $1,485,369.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 648 shares of company stock valued at $5,547,709. 7.00% of the stock is owned by corporate insiders.

NVR Price Performance

Shares of NVR stock traded down $70.67 during mid-day trading on Tuesday, reaching $8,784.15. The stock had a trading volume of 14,339 shares, compared to its average volume of 19,431. NVR, Inc. has a 12-month low of $5,210.49 and a 12-month high of $8,950.72. The company has a current ratio of 5.84, a quick ratio of 3.32 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $8,093.91 and a 200 day simple moving average of $7,802.05. The company has a market cap of $27.52 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.25 and a beta of 1.17.

NVR (NYSE:NVR) last announced its earnings results on Tuesday, July 23rd. The construction company reported $120.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $121.65 by ($0.96). The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.48 billion. NVR had a return on equity of 38.51% and a net margin of 16.83%. On average, sell-side analysts anticipate that NVR, Inc. will post 499.77 earnings per share for the current year.

NVR declared that its board has approved a share buyback plan on Tuesday, May 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.