Marshfield Associates Buys 256 Shares of NVR, Inc. $NVR

Key Points

• Marshfield Associates increased its stake in NVR, Inc. by 1.1%, owning a total of 23,838 shares worth approximately $172.7 million, making it the 12th largest position in their portfolio.
• NVR reported earnings of $108.54 per share for the last quarter, exceeding analysts' expectations of $104.89, with revenues of $2.55 billion, a decrease of 0.5% year-over-year.
• The company's Board of Directors approved a $750 million stock repurchase program, indicating confidence in the stock's undervaluation.

Marshfield Associates raised its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,838 shares of the construction company's stock after purchasing an additional 256 shares during the quarter. NVR makes up 3.7% of Marshfield Associates' holdings, making the stock its 12th biggest position. Marshfield Associates owned about 0.82% of NVR worth $172,692,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in shares of NVR by 21.2% during the first quarter. Spire Wealth Management now owns 63 shares of the construction company's stock worth $456,000 after acquiring an additional 11 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in NVR by 12.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 331 shares of the construction company's stock valued at $2,377,000 after buying an additional 36 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of NVR by 5.2% during the first quarter. Asset Management One Co. Ltd. now owns 1,275 shares of the construction company's stock worth $9,237,000 after buying an additional 63 shares in the last quarter. Jump Financial LLC boosted its position in shares of NVR by 201.6% in the first quarter. Jump Financial LLC now owns 193 shares of the construction company's stock valued at $1,398,000 after acquiring an additional 129 shares during the period. Finally, GAMMA Investing LLC increased its position in NVR by 15.8% during the first quarter. GAMMA Investing LLC now owns 22 shares of the construction company's stock worth $159,000 after acquiring an additional 3 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

NVR Stock Up 0.4%

Shares of NYSE:NVR traded up $29.37 during trading on Wednesday, reaching $8,199.22. 15,720 shares of the stock were exchanged, compared to its average volume of 15,406. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $9,964.77. The stock has a fifty day moving average of $7,817.14 and a two-hundred day moving average of $7,403.05. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 11.29 and a beta of 0.95.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $104.89 by $3.65. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.46 billion. NVR had a return on equity of 37.35% and a net margin of 14.68%.NVR's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $120.69 earnings per share. Research analysts anticipate 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 share repurchase plan on Tuesday, May 6th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their price target on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, UBS Group raised their price target on NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NVR currently has an average rating of "Hold" and a consensus price target of $8,783.33.

Insider Activity at NVR

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction dated 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 sale, the chief accounting officer 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 accessible through this hyperlink. Also, Director Susan Williamson Ross sold 125 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total value of $981,285.00. Following the completion of the transaction, the director owned 386 shares in the company, valued at $3,030,208.08. This represents a 24.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 975 shares of company stock worth $7,869,360. 7.80% of the stock is owned by corporate insiders.

NVR 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.