Bayforest Capital Ltd Acquires New Holdings in NVR, Inc. (NYSE:NVR)

Key Points

• Bayforest Capital Ltd has purchased 39 shares of NVR, Inc. valued at approximately $283,000, marking a new stake for the firm.
• NVR, Inc. reported quarterly earnings of $108.54 EPS, exceeding estimates, with total revenue of $2.55 billion despite a slight year-over-year decline.
• The company's board has authorized a stock repurchase program worth $750 million, indicating management's belief that the company's shares may be undervalued.

Bayforest Capital Ltd acquired a new position in shares of NVR, Inc. (NYSE:NVR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 39 shares of the construction company's stock, valued at approximately $283,000.

Several other hedge funds have also modified their holdings of NVR. JDM Financial Group LLC purchased a new stake in NVR during the fourth quarter valued at $25,000. Olde Wealth Management LLC purchased a new stake in NVR during the first quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NVR during the first quarter valued at $36,000. Ridgewood Investments LLC raised its stake in NVR by 150.0% during the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after purchasing an additional 3 shares in the last quarter. Finally, CX Institutional purchased a new stake in NVR during the first quarter valued at $43,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NVR shares. UBS Group raised their price target on NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded NVR from a "hold" rating to a "sell" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8,783.33.

NVR Trading Up 2.8%

NVR traded up $211.18 during trading hours on Friday, reaching $7,760.67. 15,030 shares of the company's stock traded hands, compared to its average volume of 18,184. The firm has a 50-day moving average price of $7,402.55 and a 200 day moving average price of $7,379.04. NVR, Inc. has a 52-week low of $6,562.85 and a 52-week high of $9,964.77. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $22.66 billion, a PE ratio of 16.38, a PEG ratio of 11.03 and a beta of 0.94.

NVR (NYSE:NVR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $104.89 by $3.65. NVR had a return on equity of 37.35% and a net margin of 14.68%. The company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the business earned $120.69 EPS. NVR's revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

NVR Company Profile

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.