Bank of New York Mellon Corp Lowers Position in NVR, Inc. $NVR

Key Points

• Bank of New York Mellon trimmed its NVR stake by 3.6% in the first quarter, though it still held 13,223 shares valued at about $87.1 million.
• NVR reported weaker-than-expected quarterly results, posting EPS of $67.76 versus estimates of $79.97 and revenue of $1.91 billion versus expectations of $2.09 billion; revenue also fell 21.7% year over year.
• Wall Street sentiment is mixed, with analysts split between buy, hold, and sell ratings and a consensus target price of $7,478.50, while the stock recently traded at $6,339.04.

Bank of New York Mellon Corp decreased its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,223 shares of the construction company's stock after selling 493 shares during the quarter. Bank of New York Mellon Corp owned 0.48% of NVR worth $87,138,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVR. Capital Research Global Investors boosted its holdings in NVR by 0.4% during the fourth quarter. Capital Research Global Investors now owns 133,554 shares of the construction company's stock worth $973,979,000 after buying an additional 551 shares in the last quarter. M&T Bank Corp increased its holdings in NVR by 34,923.5% in 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 in the last quarter. Corient Private Wealth LLC raised its position 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 acquiring an additional 36,592 shares during the period. Norges Bank acquired a new position in shares of NVR in the fourth quarter worth about $311,496,000. Finally, Capital World Investors boosted its stake in shares of NVR by 0.3% during the 4th quarter. Capital World Investors now owns 40,703 shares of the construction company's stock worth $296,838,000 after acquiring an additional 127 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NVR shares. 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. UBS Group reduced their price target on NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and set a $8,096.00 price target on shares of NVR in a research report on Wednesday, April 22nd. Zelman & Associates raised NVR from a "hold" rating to a "buy" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings cut NVR from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7,478.50.

NVR Stock Down 1.7%

NVR stock opened at $6,339.04 on Wednesday. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,618.28. The company has a quick ratio of 2.67, a current ratio of 5.19 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $6,330.51 and a 200-day simple moving average of $6,803.80. The stock has a market capitalization of $17.12 billion, a P/E ratio of 15.45, a P/E/G ratio of 4.80 and a beta of 0.90.

NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share for the quarter, missing analysts' consensus estimates of $79.97 by ($12.21). NVR had a net margin of 12.93% and a return on equity of 32.66%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the prior year, the business posted $94.83 earnings per share. The company's quarterly revenue was down 21.7% compared to the same quarter last year. Equities analysts forecast that NVR, Inc. will post 371.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael J. Devito acquired 11 shares of NVR stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the purchase, the director owned 25 shares in the company, valued at $167,487.50. This trade represents a 78.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by corporate insiders.

About NVR

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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