Gulf International Bank UK Ltd Cuts Stock Holdings in NVR, Inc. $NVR

Key Points

• Gulf International Bank UK Ltd reduced its stake in NVR, Inc. by 26.5%, selling 67 shares to end up with 186 shares valued at approximately $1.35 million.
• NVR's board approved a $750 million share buyback program, indicating confidence in the company's stock value.
• Analysts have a consensus rating of "Hold" on NVR, with a target price of $8,783.33, following several adjustments in price objectives from different firms.

Gulf International Bank UK Ltd trimmed its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 26.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 186 shares of the construction company's stock after selling 67 shares during the period. Gulf International Bank UK Ltd's holdings in NVR were worth $1,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVR. Brighton Jones LLC increased its stake in shares of NVR by 68.9% during the fourth quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock worth $622,000 after acquiring an additional 31 shares during the period. Mariner LLC grew its position in NVR by 1.2% during the fourth quarter. Mariner LLC now owns 1,243 shares of the construction company's stock worth $10,167,000 after buying an additional 15 shares during the period. Jump Financial LLC grew its position in NVR by 39.1% during the fourth quarter. Jump Financial LLC now owns 64 shares of the construction company's stock worth $523,000 after buying an additional 18 shares during the period. Farringdon Capital Ltd. acquired a new position in NVR during the fourth quarter worth about $360,000. Finally, Canada Pension Plan Investment Board grew its position in NVR by 62.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,596 shares of the construction company's stock worth $29,411,000 after buying an additional 1,389 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

NVR Price Performance

Shares of NVR stock traded down $144.03 during trading hours on Thursday, hitting $7,887.94. The company's stock had a trading volume of 2,940 shares, compared to its average volume of 22,861. The business has a fifty day moving average of $7,629.46 and a 200-day moving average of $7,364.91. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 11.47 and a beta of 0.94. NVR, Inc. has a twelve month low of $6,562.85 and a twelve month high of $9,964.77. 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 quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $104.89 by $3.65. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.46 billion. NVR had a net margin of 14.68% and a return on equity of 37.35%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $120.69 earnings per share. As a group, equities research analysts anticipate that NVR, Inc. will post 505.2 EPS for the current year.

NVR declared that its board has authorized a share buyback program on Tuesday, May 6th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity at NVR

In related news, Director Susan Williamson Ross sold 125 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were 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. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of the company's 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 transaction, the chief accounting officer directly owned 208 shares in the company, valued at $1,684,800. The trade was a 74.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

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.