CCM Investment Group LLC Purchases New Position in NVR, Inc. (NYSE:NVR)

Key Points

• CCM Investment Group LLC has acquired a new stake in NVR, Inc. by purchasing 266 shares valued at approximately $1,910,000 in the first quarter.
• NVR reported a Q2 EPS of $108.54, surpassing consensus estimates, amidst a revenue of $2.55 billion, but down 0.5% year-over-year.
• The company has announced a stock buyback plan of $750 million, allowing it to repurchase 3.6% of its outstanding shares, indicating management's belief in the stock's undervaluation.

CCM Investment Group LLC purchased a new stake in shares of NVR, Inc. (NYSE:NVR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 266 shares of the construction company's stock, valued at approximately $1,910,000.

A number of other institutional investors have also added to or reduced their stakes in NVR. JDM Financial Group LLC acquired a new position in shares of NVR during the fourth quarter worth $25,000. Olde Wealth Management LLC acquired a new stake in shares of NVR during the 1st quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NVR during the 1st quarter valued at $36,000. Ridgewood Investments LLC grew its holdings in shares of NVR by 150.0% during the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock worth $36,000 after purchasing an additional 3 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of NVR during the first quarter worth about $43,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Susan Williamson Ross sold 125 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total value of $981,285.00. Following the completion of the sale, the director directly owned 386 shares of the company's stock, valued at $3,030,208.08. The trade was a 24.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 74.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVR shares. UBS Group boosted their price target on NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. boosted their price target on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8,783.33.

NVR Trading Down 1.1%

Shares of NVR traded down $89.79 during mid-day trading on Thursday, reaching $8,206.85. 7,626 shares of the company were exchanged, compared to its average volume of 23,044. NVR, Inc. has a 52 week low of $6,562.85 and a 52 week high of $9,964.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.97 and a current ratio of 5.79. The stock has a market capitalization of $23.55 billion, a PE ratio of 17.32, a PEG ratio of 11.32 and a beta of 0.94. The business has a 50 day simple moving average of $7,534.37 and a two-hundred day simple moving average of $7,362.73.

NVR (NYSE:NVR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, beating the consensus estimate of $104.89 by $3.65. NVR had a return on equity of 37.35% and a net margin of 14.68%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company earned $120.69 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

NVR 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.