Bank of New York Mellon Corp Invests $84.07 Million in NVR, Inc. $NVR

Key Points

• Bank of New York Mellon purchased 12,339 NVR shares worth approximately $84.07 million, giving it a 0.46% stake. Institutional investors and hedge funds collectively own 83.67% of the homebuilder.
• NVR reported quarterly revenue of $2.34 billion, below estimates of $2.40 billion, while revenue fell 10.5% year over year. The company posted a 12.26% net margin and 31.02% return on equity.
• Analyst sentiment remains cautious: NVR has a consensus “Hold” rating and an average price target of $7,224.20, compared with shares trading near $6,432.84.

Bank of New York Mellon Corp purchased a new stake in NVR, Inc. (NYSE:NVR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,339 shares of the construction company's stock, valued at approximately $84,069,000. Bank of New York Mellon Corp owned 0.46% of NVR at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of NVR during the 4th quarter valued at about $311,496,000. Corient Private Wealth LLC increased its holdings in shares of NVR by 407.5% in the fourth quarter. Corient Private Wealth LLC now owns 45,572 shares of the construction company's stock worth $332,346,000 after purchasing an additional 36,592 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of NVR by 879.9% in the first quarter. First Trust Advisors LP now owns 24,418 shares of the construction company's stock worth $160,911,000 after purchasing an additional 21,926 shares during the last quarter. Newport Capital Group LLC purchased a new stake in shares of NVR in the fourth quarter worth about $106,372,000. Finally, Deutsche Bank AG lifted its position in shares of NVR by 65.4% in the fourth quarter. Deutsche Bank AG now owns 24,289 shares of the construction company's stock worth $177,134,000 after buying an additional 9,604 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Stock Up 0.6%

Shares of NYSE:NVR opened at $6,432.84 on Wednesday. NVR, Inc. has a 52-week low of $5,501.01 and a 52-week high of $8,618.28. The stock has a market cap of $17.11 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 10.69 and a beta of 0.91. The business's 50 day moving average is $6,450.03 and its 200 day moving average is $6,587.13. 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 (NYSE:NVR - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $83.06. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.40 billion. NVR had a net margin of 12.26% and a return on equity of 31.02%. NVR's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $108.54 earnings per share. Sell-side analysts predict that NVR, Inc. will post 367.13 EPS for the current year.

Insider Transactions at NVR

In other NVR news, Director George Oliver acquired 63 shares of the firm's stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the purchase, the director owned 63 shares in the company, valued at approximately $405,185.13. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVR. Zelman & Associates upgraded NVR from a "hold" rating to a "buy" rating in a report on Tuesday, July 7th. UBS Group decreased their price objective on NVR from $7,700.00 to $7,400.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Zacks Research upgraded NVR from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of NVR from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. Finally, Truist Financial reduced their price target on shares of 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. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7,224.20.

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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