Assenagon Asset Management S.A. Buys 1,595 Shares of NVR, Inc. $NVR

Key Points

• Assenagon Asset Management increased its NVR stake by 23% in the third quarter, purchasing 1,595 additional shares and bringing its holdings to 8,516 shares valued at approximately $52.4 million.
• Institutional investors own 83.67% of NVR, with major new positions established by BlackRock, Caisse de dépôt et placement du Québec, Legal & General, and Deutsche Bank.
• NVR’s latest quarterly revenue fell 10.5% year over year to $2.34 billion, while analysts maintain a consensus “Hold” rating and an average price target of $6,809.67.

Assenagon Asset Management S.A. boosted its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 23.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,516 shares of the construction company's stock after purchasing an additional 1,595 shares during the period. Assenagon Asset Management S.A. owned 0.32% of NVR worth $52,411,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in NVR in the 2nd quarter valued at $2,004,324,000. Caisse de depot et placement du Quebec bought a new stake in shares of NVR during the 2nd quarter valued at $194,114,000. First Trust Advisors LP grew its holdings in shares of NVR by 879.9% during the 1st quarter. First Trust Advisors LP now owns 24,418 shares of the construction company's stock worth $160,911,000 after purchasing an additional 21,926 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of NVR during the 2nd quarter worth $126,164,000. Finally, Deutsche Bank AG acquired a new stake in shares of NVR during the 2nd quarter worth $120,488,000. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director George Oliver bought 63 shares of the firm's stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $6,431.51 per share, with a total value of $405,185.13. Following the transaction, the director owned 63 shares of the company's stock, valued at $405,185.13. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by insiders.

NVR Price Performance

Shares of NVR opened at $5,924.13 on Friday. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. The stock has a market cap of $15.79 billion, a PE ratio of 15.36 and a beta of 0.90. NVR, Inc. has a 12-month low of $5,501.01 and a 12-month high of $8,200.00. The business has a 50-day simple moving average of $6,203.02 and a two-hundred day simple moving average of $6,326.25.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $83.06. NVR had a return on equity of 31.02% and a net margin of 12.26%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $108.54 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that NVR, Inc. will post 361.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVR. Zacks Research cut shares of NVR from a "hold" rating to a "strong sell" rating in a research report on Monday, September 21st. Truist Financial reduced their price target on shares of NVR from $6,600.00 to $6,400.00 and set a "hold" rating on the stock in a research report on Friday, July 24th. Zelman & Associates upgraded shares of NVR from a "hold" rating to a "buy" rating in a research report on Tuesday, July 7th. UBS Group decreased their price objective on shares of NVR from $7,700.00 to $7,400.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Finally, Bank of America lowered their price objective on shares of NVR from $7,600.00 to $7,200.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6,809.67.

About NVR

NVR, Inc is a U.S. homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its Ryan Homes, NVHomes and Heartland Homes brands, the company designs and constructs single-family homes, townhomes and condominiums for first-time, move-up and luxury homebuyers.

NVR serves customers across selected markets in the Mid-Atlantic, Northeast, Midwest and Southeast regions of the United States. Its homebuilding operations include land acquisition and development, home design, construction, sales and customer service.

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