ING Groep NV Boosts Stock Holdings in NVR, Inc. $NVR

Key Points

• ING Groep NV sharply increased its stake in NVR during the fourth quarter, boosting holdings by 416.9% to 367 shares worth about $2.68 million.
• NVR’s latest quarterly results fell short of expectations, with EPS of $67.76 and revenue of $1.91 billion both missing analyst estimates, while revenue dropped 21.7% year over year.
• Despite the earnings miss, NVR has continued to attract institutional interest and buybacks: the board authorized a $750 million share repurchase program, and analysts currently rate the stock Hold on average.

ING Groep NV raised its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 416.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 367 shares of the construction company's stock after purchasing an additional 296 shares during the period. ING Groep NV's holdings in NVR were worth $2,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVR. Brighton Jones LLC increased its position in NVR by 68.9% during the 4th quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock valued at $622,000 after purchasing an additional 31 shares during the period. Woodline Partners LP increased its position in NVR by 28.4% during the 1st quarter. Woodline Partners LP now owns 253 shares of the construction company's stock valued at $1,833,000 after purchasing an additional 56 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of NVR by 100.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10 shares of the construction company's stock valued at $75,000 after buying an additional 5 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of 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. boosted its holdings in shares of NVR by 3.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 449 shares of the construction company's stock valued at $3,316,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVR shares. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Seaport Research Partners restated a "sell" rating and issued a $5,664.00 price target on shares of NVR in a report on Tuesday, April 7th. Truist Financial lowered their price target on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. UBS Group lowered their price target on shares of NVR from $8,100.00 to $7,700.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. Finally, Weiss Ratings cut shares of NVR from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NVR presently has a consensus rating of "Hold" and a consensus target price of $7,649.33.

NVR Stock Up 3.5%

NVR stock opened at $6,410.21 on Wednesday. The firm has a 50 day moving average of $6,324.66 and a 200 day moving average of $6,996.58. The stock has a market capitalization of $17.31 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 4.56 and a beta of 0.93. The company has a quick ratio of 2.67, a current ratio of 5.19 and a debt-to-equity ratio of 0.26. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last released its 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). The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $2.09 billion. NVR had a return on equity of 32.66% and a net margin of 12.93%.The firm's revenue for the quarter was down 21.7% on a year-over-year basis. During the same quarter last year, the business earned $94.83 earnings per share. Sell-side analysts forecast that NVR, Inc. will post 375.15 earnings per share for the current year.

NVR announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Michael J. Devito bought 11 shares of the 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 purchase, the director directly owned 25 shares of the company's stock, valued at approximately $167,487.50. This trade represents a 78.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

NVR 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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