Cresset Asset Management LLC Sells 68 Shares of NVR, Inc. $NVR

Key Points

• Cresset Asset Management LLC has reduced its stake in NVR, Inc. by 36.6%, selling 68 shares and now holding 118 shares valued at approximately $855,000.
• NVR, Inc. recently announced a $750 million share repurchase plan, indicating that the board believes the company's stock may be undervalued.
• Following its latest earnings report, which beat expectations, analysts have raised price targets for NVR, with a consensus target now at $8,783.33.

Cresset Asset Management LLC trimmed its position in NVR, Inc. (NYSE:NVR - Free Report) by 36.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118 shares of the construction company's stock after selling 68 shares during the quarter. Cresset Asset Management LLC's holdings in NVR were worth $855,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JDM Financial Group LLC bought a new position in NVR in the 4th quarter valued at about $25,000. Olde Wealth Management LLC bought a new position in NVR in the 1st quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in NVR in the 1st quarter valued at about $36,000. Ridgewood Investments LLC raised its holdings in NVR by 150.0% in the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after acquiring an additional 3 shares during the period. Finally, SouthState Corp bought a new position in NVR in the 1st quarter valued at about $36,000. 83.67% of the stock is owned by institutional investors.

Insider Activity at NVR

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This trade represents a 74.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan Williamson Ross sold 125 shares of the stock in a transaction that occurred 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 sale, the director owned 386 shares in the company, valued at $3,030,208.08. This represents a 24.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

NVR Stock Up 3.4%

Shares of NVR opened at $8,223.8250 on Friday. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The firm's 50 day moving average is $7,660.46 and its 200-day moving average is $7,369.45. The stock has a market capitalization of $23.60 billion, a PE ratio of 17.36, a P/E/G ratio of 11.06 and a beta of 0.94. The company has a current ratio of 5.79, a quick ratio of 2.97 and a debt-to-equity ratio of 0.24.

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

NVR announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their price target on shares of NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group increased their target price on shares of NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8,783.33.

About NVR

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.

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