MAI Capital Management Sells 39 Shares of NVR, Inc. $NVR

Key Points

• MAI Capital Management reduced its stake in NVR, Inc. by 6.8% in the first quarter, holding 537 shares valued at approximately $3.89 million after selling 39 shares.
• Analysts have mostly issued a "Hold" rating for NVR, with a consensus target price of $8,783.33, following recent upgrades from various firms.
• NVR's board approved a stock buyback program allowing for the purchase of up to $750 million in shares, indicating confidence in the company's valuation.

MAI Capital Management trimmed its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 537 shares of the construction company's stock after selling 39 shares during the period. MAI Capital Management's holdings in NVR were worth $3,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of NVR by 68.9% during the 4th quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock worth $622,000 after buying an additional 31 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in NVR by 8.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 190 shares of the construction company's stock valued at $1,554,000 after purchasing an additional 15 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of NVR in the 4th quarter valued at approximately $19,482,000. Ameriprise Financial Inc. raised its position in shares of NVR by 9.5% in the 4th quarter. Ameriprise Financial Inc. now owns 8,464 shares of the construction company's stock valued at $69,226,000 after buying an additional 733 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of NVR by 16.2% in the 4th quarter. BNP Paribas Financial Markets now owns 6,461 shares of the construction company's stock valued at $52,844,000 after buying an additional 902 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

NVR Stock Up 1.1%

NVR traded up $89.27 during trading on Friday, hitting $8,497.04. 13,288 shares of the company's stock were exchanged, compared to its average volume of 15,839. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $7,861.59 and its two-hundred day moving average is $7,420.74. NVR, Inc. has a fifty-two week low of $6,562.85 and a fifty-two week high of $9,964.77. The stock has a market cap of $24.39 billion, a P/E ratio of 17.93, a PEG ratio of 11.82 and a beta of 0.95.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share for the quarter, topping the consensus estimate of $104.89 by $3.65. NVR had a net margin of 14.68% and a return on equity of 37.35%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company posted $120.69 earnings per share. The business's revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased 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 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. One investment 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.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8,783.33.

Insider Activity at NVR

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $1,684,800. This trade represents a 74.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Williamson Ross sold 125 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total transaction of $981,285.00. Following the sale, the director owned 386 shares of the company's stock, valued at $3,030,208.08. This trade represents a 24.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 975 shares of company stock valued at $7,869,360. 7.00% of the stock is owned by insiders.

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.