Bank Julius Baer & Co. Ltd Zurich Sells 358 Shares of NVR, Inc. $NVR

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its NVR stake by 45.3% in the fourth quarter, selling 358 shares and leaving it with 432 shares worth about $3.16 million.
• NVR reported weaker-than-expected quarterly results, with EPS of $67.76 versus the $79.97 estimate and revenue of $1.91 billion, down 21.7% year over year.
• The stock fell 2.3% and was trading near its 52-week low, while analysts currently rate NVR a Hold on average despite a recently authorized $750 million share buyback program.

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 45.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 432 shares of the construction company's stock after selling 358 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in NVR were worth $3,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVR. Deseret Mutual Benefit Administrators lifted its holdings in NVR by 8.3% during the third quarter. Deseret Mutual Benefit Administrators now owns 26 shares of the construction company's stock worth $209,000 after buying an additional 2 shares during the period. Drive Wealth Management LLC raised its stake in NVR by 7.1% in the 3rd quarter. Drive Wealth Management LLC now owns 30 shares of the construction company's stock worth $241,000 after acquiring an additional 2 shares during the last quarter. CI Investments Inc. raised its stake in NVR by 13.3% in the 3rd quarter. CI Investments Inc. now owns 17 shares of the construction company's stock worth $137,000 after acquiring an additional 2 shares during the last quarter. Castleview Partners LLC raised its stake in NVR by 2.8% in the 4th quarter. Castleview Partners LLC now owns 74 shares of the construction company's stock worth $540,000 after acquiring an additional 2 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in NVR by 0.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425 shares of the construction company's stock worth $3,099,000 after purchasing an additional 2 shares during the period. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling at NVR

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

NVR Stock Down 2.3%

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

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

NVR announced that its board has authorized a share repurchase program on Wednesday, February 11th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America cut their price target on NVR from $8,600.00 to $8,225.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. BTIG Research reaffirmed a "buy" rating and set a $8,096.00 price target on shares of NVR in a research report on Wednesday, April 22nd. Weiss Ratings cut NVR from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Seaport Research Partners restated a "sell" rating and set a $5,664.00 target price on shares of NVR in a research report on Tuesday, April 7th. Finally, Zelman & Associates upgraded NVR from a "sell" rating to a "hold" rating and set a $7,675.00 price objective on the stock in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7,649.33.

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.

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