NVR, Inc. (NYSE:NVR) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in NVR, Inc. by 9.1%, selling 3,510 shares and now owning 35,039 shares valued at approximately $253.8 million.
• NVR reported earnings per share of $108.54 for the latest quarter, exceeding analysts' expectations, despite a 0.5% year-over-year revenue decline.
• The company has announced a $750 million stock repurchase plan, indicating confidence in its stock valuation and the potential for future growth.

Invesco Ltd. trimmed its position in NVR, Inc. (NYSE:NVR - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,039 shares of the construction company's stock after selling 3,510 shares during the quarter. Invesco Ltd. owned about 1.20% of NVR worth $253,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVR. Brighton Jones LLC raised its stake in shares of 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. Advisory Services Network LLC raised its stake in shares of NVR by 12.9% in the 4th quarter. Advisory Services Network LLC now owns 96 shares of the construction company's stock valued at $785,000 after acquiring an additional 11 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of NVR in the 4th quarter valued at approximately $37,942,000. Sterling Capital Management LLC raised its stake in shares of NVR by 55.0% in the 4th quarter. Sterling Capital Management LLC now owns 172 shares of the construction company's stock valued at $1,407,000 after acquiring an additional 61 shares during the period. Finally, Mariner LLC raised its stake in shares of NVR by 1.2% in the 4th quarter. Mariner LLC now owns 1,243 shares of the construction company's stock valued at $10,167,000 after acquiring an additional 15 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVR 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 value of $4,860,000.00. Following the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $1,684,800. This represents a 74.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Williamson Ross sold 125 shares of the company's stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

NVR Stock Up 0.3%

Shares of NYSE:NVR traded up $28.23 during trading hours on Friday, reaching $8,226.78. The stock had a trading volume of 14,918 shares, compared to its average volume of 16,915. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $9,964.77. The firm's 50 day moving average is $7,577.10 and its 200-day moving average is $7,358.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.97 and a current ratio of 5.79. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 11.78 and a beta of 0.94.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, beating 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 company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm posted $120.69 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. Research analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $750.00 million in 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 often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

NVR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a research note 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 note on Thursday, July 24th. Finally, Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8,783.33.

NVR Company 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.