CIBC Asset Management Inc Acquires 255 Shares of NVR, Inc. $NVR

Key Points

• CIBC Asset Management boosted its NVR stake by 60.1% in the fourth quarter, buying 255 additional shares and bringing its total to 679 shares worth about $4.95 million.
• NVR reported disappointing quarterly results, with EPS of $67.76 and revenue of $1.91 billion, both below analyst estimates and down from the same period last year.
• Despite the weak earnings, NVR’s board authorized a $750 million share repurchase program, and the stock currently carries a consensus Hold rating with an average price target of $7,649.33.

CIBC Asset Management Inc increased its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 60.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679 shares of the construction company's stock after purchasing an additional 255 shares during the quarter. CIBC Asset Management Inc's holdings in NVR were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVR. Oakworth Capital Inc. bought a new stake in NVR during the 4th quarter valued at approximately $36,000. State of Wyoming bought a new stake in NVR during the 2nd quarter valued at approximately $44,000. USA Financial Formulas boosted its position in NVR by 75.0% during the 4th quarter. USA Financial Formulas now owns 7 shares of the construction company's stock valued at $51,000 after acquiring an additional 3 shares in the last quarter. Clearstead Advisors LLC boosted its position in NVR by 75.0% during the 4th quarter. Clearstead Advisors LLC now owns 7 shares of the construction company's stock valued at $51,000 after acquiring an additional 3 shares in the last quarter. Finally, Zions Bancorporation National Association UT boosted its position in NVR by 600.0% during the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company's stock valued at $56,000 after acquiring an additional 6 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael J. Devito acquired 11 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the acquisition, the director directly owned 25 shares in the company, valued at approximately $167,487.50. The trade was a 78.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NVR shares. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings cut NVR from a "hold (c)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Bank of America cut their price objective on NVR from $8,600.00 to $8,225.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Seaport Research Partners reissued a "sell" rating and issued a $5,664.00 price target on shares of NVR in a research report on Tuesday, April 7th. Finally, UBS Group dropped their price target on NVR from $8,100.00 to $7,700.00 and set a "neutral" rating on the stock in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7,649.33.

NVR Stock Performance

Shares of NVR opened at $6,195.06 on Friday. 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 business's 50 day moving average price is $6,331.98 and its 200-day moving average price is $7,009.27. 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 $16.73 billion, a P/E ratio of 15.10, a P/E/G ratio of 4.55 and a beta of 0.93.

NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing analysts' consensus estimates of $79.97 by ($12.21). NVR had a return on equity of 32.66% and a net margin of 12.93%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm earned $94.83 earnings per share. The business's revenue for the quarter was down 21.7% compared to the same quarter last year. Equities research analysts anticipate that NVR, Inc. will post 375.15 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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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