Giverny Capital Inc. Sells 409 Shares of NVR, Inc. $NVR

Key Points

• Giverny Capital reduced its NVR stake by 3%, selling 409 shares and retaining 13,238 shares valued at approximately $90.2 million. Institutional investors and hedge funds collectively own 83.67% of NVR.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $7,224.20; price targets from UBS and Truist were recently lowered, while Zelman upgraded the stock to “Buy.”
• NVR shares opened at $6,306.62, near their 50-day and 200-day moving averages. Quarterly revenue fell 10.5% year over year to $2.34 billion, while EPS declined from $108.54 to $83.96.

Giverny Capital Inc. decreased its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,238 shares of the construction company's stock after selling 409 shares during the quarter. NVR comprises about 3.1% of Giverny Capital Inc.'s portfolio, making the stock its 15th biggest holding. Giverny Capital Inc. owned about 0.50% of NVR worth $90,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in NVR by 68.9% in the 4th quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock valued at $622,000 after acquiring an additional 31 shares during the period. Woodline Partners LP boosted its holdings in shares of NVR by 28.4% during the first quarter. Woodline Partners LP now owns 253 shares of the construction company's stock worth $1,833,000 after acquiring an additional 56 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of NVR by 100.0% in the second quarter. EverSource Wealth Advisors LLC now owns 10 shares of the construction company's stock valued at $75,000 after purchasing an additional 5 shares during the last quarter. Cerity Partners LLC grew its holdings in NVR by 7.9% in the 2nd quarter. Cerity Partners LLC now owns 409 shares of the construction company's stock valued at $3,021,000 after buying an additional 30 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in NVR by 3.7% during the second quarter. Daiwa Securities Group Inc. now owns 449 shares of the construction company's stock worth $3,316,000 after acquiring an additional 16 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVR shares. UBS Group cut their price objective on shares of NVR from $7,700.00 to $7,400.00 and set a "neutral" rating for the company in a report on Friday, July 24th. BTIG Research set a $7,446.00 price objective on NVR in a research note on Friday, July 24th. Weiss Ratings raised NVR from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. Truist Financial cut their price objective on shares of NVR from $6,600.00 to $6,400.00 and set a "hold" rating for the company in a research report on Friday, July 24th. Finally, Zelman & Associates upgraded shares of NVR from a "hold" rating to a "buy" rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7,224.20.

Insider Transactions at NVR

In related news, Director George Oliver acquired 63 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $6,431.51 per share, with a total value of $405,185.13. Following the purchase, the director directly owned 63 shares in the company, valued at approximately $405,185.13. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is currently owned by corporate insiders.

NVR Price Performance

Shares of NVR stock opened at $6,306.62 on Monday. The business has a fifty day simple moving average of $6,417.15 and a 200 day simple moving average of $6,499.19. The company has a market cap of $16.78 billion, a P/E ratio of 16.36, a P/E/G ratio of 10.53 and a beta of 0.91. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. NVR, Inc. has a twelve month low of $5,501.01 and a twelve month high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last issued its earnings results on Thursday, July 23rd. The construction company reported $83.96 EPS for the quarter, topping the consensus estimate of $0.90 by $83.06. NVR had a return on equity of 31.02% and a net margin of 12.26%.The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm earned $108.54 earnings per share. The business's quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that NVR, Inc. will post 367.13 EPS for the current fiscal 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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