California Public Employees Retirement System Increases Position in NVR, Inc. $NVR

Key Points

• CalPERS increased its stake in NVR by 9.6% in the first quarter, bringing its holdings to 5,845 shares valued at about $38.5 million.
• Other institutional investors also boosted positions in NVR, and institutional ownership remains high at 83.67% of the stock.
• NVR reported weaker-than-expected quarterly results, with earnings of $67.76 per share and revenue of $1.91 billion, both below analyst estimates; revenue also fell 21.7% year over year.

California Public Employees Retirement System increased its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,845 shares of the construction company's stock after buying an additional 511 shares during the quarter. California Public Employees Retirement System owned about 0.21% of NVR worth $38,518,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NVR. M&T Bank Corp lifted its position in NVR by 34,923.5% during the 4th quarter. M&T Bank Corp now owns 56,738 shares of the construction company's stock worth $413,777,000 after acquiring an additional 56,576 shares during the period. Norges Bank purchased a new position in shares of NVR in the fourth quarter worth about $311,496,000. Corient Private Wealth LLC lifted its holdings in shares of NVR by 407.5% during 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 period. Newport Capital Group LLC acquired a new stake in shares of NVR during the fourth quarter worth about $106,372,000. Finally, Deutsche Bank AG boosted its position in NVR by 65.4% in the fourth quarter. Deutsche Bank AG now owns 24,289 shares of the construction company's stock valued at $177,134,000 after buying an additional 9,604 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael J. Devito acquired 11 shares of the company's stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $6,699.50 per share, with a total value of $73,694.50. Following the purchase, the director directly owned 25 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVR. Seaport Research Partners reiterated a "sell" rating and issued a $5,664.00 price target on shares of NVR in a report on Tuesday, April 7th. Truist Financial dropped their price objective on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Weiss Ratings lowered shares of NVR from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Bank of America cut their price objective on shares of NVR from $7,600.00 to $7,200.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Three investment 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's stock. According to data from MarketBeat, NVR currently has an average rating of "Hold" and an average price target of $7,478.50.

NVR Stock Down 0.5%

Shares of NVR opened at $6,455.14 on Tuesday. 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 company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 4.81 and a beta of 0.90. The stock's 50-day moving average price is $6,319.68 and its 200-day moving average price is $6,810.56.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share for the quarter, missing the consensus estimate of $79.97 by ($12.21). The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $2.09 billion. NVR had a net margin of 12.93% and a return on equity of 32.66%. The firm's revenue was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $94.83 earnings per share. On average, sell-side analysts predict that NVR, Inc. will post 372.53 EPS for the current year.

NVR Company 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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