Bank of America Corp DE Purchases Shares of 17,615 NVR, Inc. $NVR

Key Points

• Bank of America acquired 17,615 NVR shares in the second quarter, worth approximately $120 million and representing 0.66% of the homebuilder. Other institutions, including Berkshire Hathaway and BlackRock, also initiated positions, with institutional investors collectively owning 83.67% of NVR.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $7,224.20 after several firms lowered their targets.
• NVR reported quarterly revenue of $2.34 billion, down 10.5% year over year, while earnings declined from the prior-year period. Shares opened at $6,154.26, within a 52-week range of $5,501.01 to $8,200.01.

Bank of America Corp DE acquired a new stake in shares of NVR, Inc. (NYSE:NVR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,615 shares of the construction company's stock, valued at approximately $120,018,000. Bank of America Corp DE owned 0.66% of NVR as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Hathaway Inc purchased a new stake in shares of NVR in the second quarter worth about $75,711,000. BlackRock Inc. purchased a new stake in shares of NVR during the 2nd quarter valued at about $2,004,324,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of NVR during the 2nd quarter valued at about $44,887,000. Wealthfront Advisers LLC acquired a new position in NVR during the 2nd quarter worth approximately $1,949,000. Finally, Norges Bank acquired a new position in NVR during the 4th quarter worth approximately $311,496,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research set a $7,446.00 target price on NVR in a research report on Friday, July 24th. UBS Group lowered their price objective on NVR from $7,700.00 to $7,400.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. Truist Financial cut their target price on 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. Zacks Research upgraded NVR from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised shares of NVR from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7,224.20.

Insider Transactions at NVR

In other NVR news, Director George Oliver acquired 63 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the acquisition, the director owned 63 shares of the company's stock, valued at approximately $405,185.13. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company's stock.

NVR Stock Performance

Shares of NYSE NVR opened at $6,154.26 on Friday. The stock's fifty day simple moving average is $6,329.06 and its 200 day simple moving average is $6,417.92. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 10.43 and a beta of 0.91. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. NVR, Inc. has a 52-week low of $5,501.01 and a 52-week high of $8,200.01.

NVR (NYSE:NVR - Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $83.96 earnings per share 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 for the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter in the previous year, the business posted $108.54 EPS. The business's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that NVR, Inc. will post 367.13 earnings per share for the current fiscal year.

NVR Company Profile

NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs, constructs and sells single-family homes, townhomes and condominiums under the Ryan Homes, NVHomes and Heartland Homes brands.

NVR primarily serves homebuyers in the Mid-Atlantic, Midwest and Southeast regions of the United States. Its communities are developed in a range of suburban and urban markets, with homes generally marketed to first-time, move-up and luxury buyers.

Through its mortgage banking operations, NVR provides mortgage loans and related services to many of the customers who purchase its homes.

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