Korea Investment CORP Invests $8.16 Million in NVR, Inc. $NVR

Key Points

• Korea Investment CORP initiated a $8.16 million position in NVR during the second quarter by purchasing 1,197 shares. Institutional investors collectively own 83.67% of the homebuilder’s stock.
• NVR’s latest quarterly revenue fell 10.5% year over year to $2.34 billion, below analyst estimates, while earnings per share declined from the prior-year period. The company reported a 12.26% net margin and 31.02% return on equity.
• Analysts maintain a consensus “Hold” rating, with a consensus price target of $7,224.20 versus the stock’s reported opening price of $6,400.46.

Korea Investment CORP bought a new position in NVR, Inc. (NYSE:NVR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,197 shares of the construction company's stock, valued at approximately $8,156,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVR. Clearstead Trust LLC purchased a new stake in NVR during the 2nd quarter valued at $27,000. DV Equities LLC purchased a new position in shares of NVR in the fourth quarter valued at about $29,000. Strive Financial Group LLC bought a new position in shares of NVR during the fourth quarter valued at about $29,000. Trust Co. of Vermont bought a new position in shares of NVR during the second quarter valued at about $34,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of NVR during the fourth quarter worth about $36,000. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at NVR

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

NVR Stock Performance

Shares of NVR stock opened at $6,400.46 on Tuesday. The company's fifty day moving average price is $6,450.29 and its 200-day moving average price is $6,598.36. The stock has a market cap of $17.03 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 10.63 and a beta of 0.91. The company has a current ratio of 5.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27. NVR, Inc. has a 12 month low of $5,501.01 and a 12 month high of $8,618.28.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial reduced their price target on NVR from $6,600.00 to $6,400.00 and set a "hold" rating on the stock in a report on Friday, July 24th. Zelman & Associates upgraded NVR from a "hold" rating to a "buy" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Bank of America reduced their target price on NVR from $7,600.00 to $7,200.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded NVR from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7,224.20.

About NVR

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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