Assenagon Asset Management S.A. Sells 4,836 Shares of NVR, Inc. $NVR

Key Points

• Assenagon Asset Management S.A. reduced its stock holdings in NVR, Inc. by 57.2%, selling 4,836 shares during the second quarter and retaining 3,616 shares valued at approximately $26.7 million.
• Recent insider transactions reveal significant sell-offs, with CAO Matthew B. Kelpy and Director Alexandra A. Jung reducing their stakes by 74.26% and 72.73% respectively.
• NVR, Inc. reported a year-over-year revenue decline of 0.5% despite exceeding earnings estimates in the latest quarterly results, showing a complex performance amidst pressure in the homebuilding sector.

Assenagon Asset Management S.A. reduced its position in NVR, Inc. (NYSE:NVR - Free Report) by 57.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,616 shares of the construction company's stock after selling 4,836 shares during the period. Assenagon Asset Management S.A. owned 0.12% of NVR worth $26,707,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of NVR by 838,726.3% in the first quarter. GAMMA Investing LLC now owns 159,377 shares of the construction company's stock worth $1,154,589,000 after buying an additional 159,358 shares in the last quarter. Boston Partners lifted its position in shares of NVR by 14.0% in the first quarter. Boston Partners now owns 59,077 shares of the construction company's stock worth $427,962,000 after buying an additional 7,233 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in NVR by 116,808.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 57,285 shares of the construction company's stock valued at $468,528,000 after purchasing an additional 57,236 shares during the period. Principal Financial Group Inc. raised its position in NVR by 5.3% during the first quarter. Principal Financial Group Inc. now owns 56,352 shares of the construction company's stock valued at $408,236,000 after purchasing an additional 2,814 shares during the period. Finally, JPMorgan Chase & Co. raised its position in NVR by 41.6% during the first quarter. JPMorgan Chase & Co. now owns 52,404 shares of the construction company's stock valued at $379,639,000 after purchasing an additional 15,405 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at $1,684,800. This represents a 74.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Williamson Ross sold 125 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 386 shares in the company, valued at approximately $3,030,208.08. This trade represents a 24.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 975 shares of company stock valued at $7,869,360 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVR shares. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group upped their price objective on NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8,783.33.

NVR Trading Down 1.8%

Shares of NVR traded down $144.95 during mid-day trading on Monday, reaching $7,949.75. 19,903 shares of the company's stock traded hands, compared to its average volume of 18,341. The stock has a market cap of $22.82 billion, a P/E ratio of 16.78, a P/E/G ratio of 11.25 and a beta of 0.95. The stock's 50-day moving average is $8,005.03 and its two-hundred day moving average is $7,500.40. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $120.69 earnings per share. NVR's revenue was down .5% compared to the same quarter last year. Research analysts forecast that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

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.