Bank of America Corp DE Acquires 804 Shares of NVR, Inc. $NVR

Key Points

• Bank of America increased its NVR holdings by 6.3% in the first quarter, purchasing 804 additional shares and bringing its stake to 13,520 shares valued at approximately $89.1 million.
• Institutional investors own 83.67% of NVR, while analysts remain divided: the stock has a consensus “Hold” rating and an average price target of $7,224.20.
• NVR reported quarterly revenue of $2.34 billion, down 10.5% year over year and below expectations, although its $83.96 earnings per share surpassed the consensus estimate. Shares opened at $6,399.95, up 1.5%.

Bank of America Corp DE lifted its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,520 shares of the construction company's stock after purchasing an additional 804 shares during the period. Bank of America Corp DE owned 0.50% of NVR worth $89,095,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVR. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in NVR by 0.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425 shares of the construction company's stock worth $3,099,000 after buying an additional 2 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of NVR by 3.9% in the fourth quarter. International Assets Investment Management LLC now owns 53 shares of the construction company's stock worth $387,000 after buying an additional 2 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of NVR by 4.9% in the fourth quarter. Ballentine Partners LLC now owns 43 shares of the construction company's stock worth $314,000 after buying an additional 2 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its stake in shares of NVR by 1.6% during the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 127 shares of the construction company's stock worth $926,000 after acquiring an additional 2 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of NVR by 28.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 9 shares of the construction company's stock worth $67,000 after acquiring an additional 2 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVR. Zelman & Associates raised NVR from a "hold" rating to a "buy" rating in a report on Tuesday, July 7th. Zacks Research lowered NVR from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Bank of America decreased their target price on 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. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of NVR in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, NVR presently has a consensus rating of "Hold" and an average target price of $7,224.20.

NVR Trading Up 1.5%

Shares of NVR stock opened at $6,399.95 on Friday. NVR, Inc. has a 1 year low of $5,501.01 and a 1 year high of $8,618.28. The firm's fifty day simple moving average is $6,433.96 and its 200 day simple moving average is $6,706.97. The firm has a market capitalization of $17.02 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 10.54 and a beta of 0.91. The company has a current ratio of 5.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27.

NVR (NYSE:NVR - Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $83.96 EPS for the quarter, beating the consensus estimate of $0.90 by $83.06. NVR had a net margin of 12.26% and a return on equity of 31.02%. The firm had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the company earned $108.54 EPS. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that NVR, Inc. will post 371.98 EPS for the current year.

NVR 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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