Luma Capital S.A. SPF Takes $9.87 Million Position in NVR, Inc. $NVR

Key Points

• Luma Capital bought 1,354 shares of NVR valued at approximately $9.87 million, making NVR about 9.3% of its portfolio and its sixth-largest holding.
• NVR beat Q4 estimates with EPS of $121.54 (consensus $105.42) and revenue of $2.74B (down 5.2% YoY), and its board authorized a $750 million share buyback (about 3.3% of shares).
• Insiders sold 1,120 shares worth roughly $9.01 million last quarter (insider ownership 8.6%), while institutional investors hold about 83.67% of the company.

Luma Capital S.A. SPF purchased a new stake in NVR, Inc. (NYSE:NVR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,354 shares of the construction company's stock, valued at approximately $9,874,000. NVR comprises approximately 9.3% of Luma Capital S.A. SPF's portfolio, making the stock its 6th largest holding.

Several other hedge funds also recently modified their holdings of NVR. Robeco Institutional Asset Management B.V. raised its position in shares of NVR by 0.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 8,343 shares of the construction company's stock worth $60,844,000 after acquiring an additional 22 shares during the last quarter. Elevate Capital Advisors LLC bought a new stake in NVR in the fourth quarter valued at approximately $368,000. Bar Harbor Wealth Management boosted its holdings in NVR by 28.6% in the fourth quarter. Bar Harbor Wealth Management now owns 45 shares of the construction company's stock valued at $328,000 after acquiring an additional 10 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in NVR during the 4th quarter valued at approximately $569,000. Finally, Greenleaf Trust raised its holdings in NVR by 10.6% during the 4th quarter. Greenleaf Trust now owns 73 shares of the construction company's stock worth $532,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

NVR Stock Down 0.7%

Shares of NYSE:NVR opened at $6,749.86 on Friday. NVR, Inc. has a 1 year low of $6,301.02 and a 1 year high of $8,618.28. The company has a market capitalization of $18.76 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.30 and a beta of 1.07. The business has a fifty day moving average price of $7,096.53 and a two-hundred day moving average price of $7,370.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.21 and a quick ratio of 3.71.

NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a net margin of 13.27% and a return on equity of 34.28%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company earned $139.93 earnings per share. The company's revenue was down 5.2% on a year-over-year basis. Analysts forecast that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR announced that its board has authorized a share buyback program on Wednesday, February 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the construction company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Zelman & Associates upgraded shares of NVR from a "sell" rating to a "hold" rating and set a $7,675.00 price objective for the company in a research note on Thursday, January 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of NVR in a research note on Thursday, January 22nd. Truist Financial started coverage on shares of NVR in a report on Wednesday, March 4th. They issued a "hold" rating and a $7,700.00 price target for the company. UBS Group set a $8,100.00 price target on shares of NVR in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8,182.83.

Insiders Place Their Bets

In related news, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares of the company's stock, valued at approximately $1,684,800. This trade represents a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Williamson Ross sold 200 shares of the business's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $7,922.06, for a total value of $1,584,412.00. Following the transaction, the director owned 386 shares of the company's stock, valued at approximately $3,057,915.16. The trade was a 34.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,120 shares of company stock worth $9,012,736 in the last quarter. 8.60% of the stock is currently 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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