Corebridge Financial Inc. Lowers Holdings in NVR, Inc. $NVR

Key Points

• Corebridge Financial Inc. sold 43 shares of NVR, Inc., reducing its stake by 5.7%, leaving it with a total of 713 shares worth approximately $5,165,000.
• Institutional investors own 83.67% of NVR's stock, with several firms increasing their positions significantly in the last quarter, including Brighton Jones LLC and Ameriprise Financial Inc.
• Analysts have generally assigned a "Hold" rating to NVR, with a consensus target price of $8,783.33, reflecting recent price target increases from firms like UBS and JPMorgan Chase.

Corebridge Financial Inc. decreased its position in NVR, Inc. (NYSE:NVR - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 713 shares of the construction company's stock after selling 43 shares during the quarter. Corebridge Financial Inc.'s holdings in NVR were worth $5,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in NVR by 68.9% in the fourth quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock worth $622,000 after buying an additional 31 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of NVR by 8.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 190 shares of the construction company's stock valued at $1,554,000 after acquiring an additional 15 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of NVR in the 4th quarter worth about $19,482,000. Ameriprise Financial Inc. lifted its holdings in shares of NVR by 9.5% in the 4th quarter. Ameriprise Financial Inc. now owns 8,464 shares of the construction company's stock worth $69,226,000 after acquiring an additional 733 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of NVR by 16.2% during the 4th quarter. BNP Paribas Financial Markets now owns 6,461 shares of the construction company's stock worth $52,844,000 after purchasing an additional 902 shares during the period. 83.67% of the stock is owned by institutional investors.

NVR Price Performance

Shares of NYSE NVR traded up $158.98 during trading on Thursday, hitting $8,349.21. The company had a trading volume of 9,374 shares, compared to its average volume of 22,544. 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 stock has a fifty day simple moving average of $7,817.14 and a two-hundred day simple moving average of $7,403.05. The firm has a market capitalization of $23.96 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 11.29 and a beta of 0.95. NVR, Inc. has a fifty-two week low of $6,562.85 and a fifty-two week high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last released its earnings results on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $104.89 by $3.65. NVR had a net margin of 14.68% and a return on equity of 37.35%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm earned $120.69 earnings per share. The company's revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts expect that NVR, Inc. will post 505.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVR shares. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group lifted their target price on NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8,783.33.

Insider Activity

In other NVR news, Director Susan Williamson Ross sold 125 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total transaction of $981,285.00. Following the transaction, the director owned 386 shares of the company's stock, valued at approximately $3,030,208.08. The trade was a 24.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. This represents a 74.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 975 shares of company stock worth $7,869,360 over the last ninety days. Corporate insiders own 7.80% of the company's stock.

NVR 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.