Bank of Nova Scotia Takes $3.20 Million Position in NVR, Inc. $NVR

Key Points

• Bank of Nova Scotia acquired 470 NVR shares worth approximately $3.20 million in the second quarter, while institutional investors collectively own 83.67% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $7,224.20; several firms recently lowered their targets.
• NVR reported quarterly revenue of $2.34 billion, down 10.5% year over year, although reported EPS of $83.96 exceeded analyst expectations. Director George Oliver also purchased 63 shares worth about $405,000.

Bank of Nova Scotia acquired a new stake in NVR, Inc. (NYSE:NVR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 470 shares of the construction company's stock, valued at approximately $3,202,000.

Other large investors also recently bought and sold shares of the company. DV Equities LLC purchased a new stake in shares of NVR in the 4th quarter worth about $29,000. Strive Financial Group LLC acquired a new position in NVR during the fourth quarter worth about $29,000. Clearstead Trust LLC purchased a new stake in shares of NVR in the second quarter valued at about $27,000. Oakworth Capital Inc. purchased a new stake in shares of NVR in the fourth quarter valued at about $36,000. Finally, Trust Co. of Vermont acquired a new stake in shares of NVR in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

NVR has been the topic of a number of analyst reports. BTIG Research set a $7,446.00 target price on NVR 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. Bank of America decreased their price objective on NVR from $7,600.00 to $7,200.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Truist Financial lowered their price target on NVR from $6,600.00 to $6,400.00 and set a "hold" rating for the company in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, NVR presently has a consensus rating of "Hold" and a consensus target price of $7,224.20.

Insider Buying and Selling

In related news, Director George Oliver bought 63 shares of the business's stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the purchase, the director owned 63 shares of the company's stock, valued at $405,185.13. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by insiders.

NVR Stock Performance

NVR stock opened at $6,432.84 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.28 and a quick ratio of 2.24. The firm's fifty day moving average price is $6,450.03 and its 200 day moving average price is $6,587.13. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 10.69 and a beta of 0.91. NVR, Inc. has a 12-month low of $5,501.01 and a 12-month high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last announced its earnings results on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 31.02% and a net margin of 12.26%.NVR's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $108.54 EPS. On average, research analysts forecast that NVR, Inc. will post 367.13 EPS for the current fiscal 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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