AustralianSuper Pty Ltd Purchases Shares of 663 NVR, Inc. $NVR

Key Points

• AustralianSuper Pty Ltd initiated a new position in NVR, buying 663 shares worth about $4.84 million in the fourth quarter.
• NVR reported weaker-than-expected quarterly results, with EPS of $67.76 and revenue of $1.91 billion, both below analyst estimates, while revenue fell 21.7% year over year.
• The company’s board authorized a $750 million share buyback, and institutional ownership remains high at 83.67%.

AustralianSuper Pty Ltd purchased a new stake in shares of NVR, Inc. (NYSE:NVR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 663 shares of the construction company's stock, valued at approximately $4,835,000.

Several other institutional investors have also added to or reduced their stakes in the business. 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 valued at $1,068,634,000 after buying an additional 9,877 shares during the period. Principal Financial Group Inc. boosted its position in NVR by 4.0% during the third quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company's stock valued at $484,546,000 after buying an additional 2,331 shares during the period. M&T Bank Corp boosted its position in NVR by 34,923.5% during the fourth quarter. M&T Bank Corp now owns 56,738 shares of the construction company's stock valued at $413,777,000 after buying an additional 56,576 shares during the period. JPMorgan Chase & Co. boosted its position in NVR by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 43,318 shares of the construction company's stock valued at $348,051,000 after buying an additional 1,718 shares during the period. Finally, Capital World Investors boosted its position in NVR by 0.3% during the third quarter. Capital World Investors now owns 40,576 shares of the construction company's stock valued at $326,014,000 after buying an additional 109 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

NVR Stock Down 2.3%

NYSE NVR opened at $5,549.87 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.19 and a quick ratio of 2.67. The stock has a market capitalization of $14.98 billion, a PE ratio of 13.53, a PEG ratio of 4.13 and a beta of 0.95. NVR, Inc. has a 1 year low of $5,501.01 and a 1 year high of $8,618.28. The business's 50-day moving average is $6,499.35 and its 200 day moving average is $7,135.87.

NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $79.97 by ($12.21). NVR had a return on equity of 32.66% and a net margin of 12.93%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $94.83 earnings per share. The firm's revenue for the quarter was down 21.7% compared to the same quarter last year. Sell-side analysts forecast that NVR, Inc. will post 380.26 earnings per share for the current year.

NVR announced that its board has authorized a stock buyback plan on Wednesday, February 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVR. UBS Group cut their price target on shares of NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a research report on Thursday, April 23rd. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Seaport Research Partners reissued a "sell" rating and issued a $5,664.00 target price on shares of NVR in a research note on Tuesday, April 7th. Weiss Ratings cut NVR from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Finally, Truist Financial cut their target price on NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7,649.33.

Insiders Place Their Bets

In other news, Director Michael J. Devito acquired 11 shares of the business's stock in a transaction on Friday, April 24th. The shares were acquired at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the transaction, the director owned 25 shares in the company, valued at $167,487.50. The trade was a 78.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.60% of the company's stock.

NVR Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.