Martingale Asset Management L P Reduces Stock Holdings in NVR, Inc. $NVR

Key Points

• Martingale Asset Management L P reduced its holdings in NVR, Inc. by 67.7%, now owning only 151 shares, valued at approximately $1,094,000.
• Insider trading activities were noted, including a 24.46% decrease in ownership from Director Susan Williamson Ross and a 74.26% drop by CAO Matthew B. Kelpy.
• Analysts have raised target prices for NVR, with JPMorgan Chase & Co. increasing their target from $7,200 to $7,600, indicating a neutral rating for the stock.

Martingale Asset Management L P reduced its stake in NVR, Inc. (NYSE:NVR - Free Report) by 67.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151 shares of the construction company's stock after selling 317 shares during the period. Martingale Asset Management L P's holdings in NVR were worth $1,094,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Candriam S.C.A. boosted its holdings in shares of NVR by 86.5% in the first quarter. Candriam S.C.A. now owns 317 shares of the construction company's stock valued at $2,296,000 after acquiring an additional 147 shares during the period. Quantum Capital Management LLC NJ boosted its holdings in shares of NVR by 60.3% in the first quarter. Quantum Capital Management LLC NJ now owns 10,537 shares of the construction company's stock valued at $76,334,000 after acquiring an additional 3,965 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of NVR by 18.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 10,659 shares of the construction company's stock valued at $77,217,000 after acquiring an additional 1,623 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NVR by 7.5% in the first quarter. Wellington Management Group LLP now owns 47,995 shares of the construction company's stock valued at $347,694,000 after acquiring an additional 3,363 shares during the period. Finally, Korea Investment CORP boosted its holdings in shares of NVR by 34.9% in the first quarter. Korea Investment CORP now owns 3,149 shares of the construction company's stock valued at $22,813,000 after acquiring an additional 814 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVR news, Director Alexandra A. Jung sold 50 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $8,231.74, for a total value of $411,587.00. Following the completion of the transaction, the director owned 75 shares in the company, valued at approximately $617,380.50. This represents a 40.00% decrease in their ownership of the stock. The transaction 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 stock in a transaction on 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 of the company's stock, valued at $3,030,208.08. The trade was a 24.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 775 shares of company stock worth $6,252,872. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVR shares. JPMorgan Chase & Co. increased their price objective on NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. UBS Group increased their price objective on NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One equities research 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 currently has a consensus rating of "Hold" and a consensus target price of $8,783.33.

NVR Stock Performance

Shares of NYSE NVR traded down $47.45 during mid-day trading on Tuesday, hitting $8,079.26. 35,418 shares of the company were exchanged, compared to its average volume of 15,742. 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 stock has a 50 day simple moving average of $7,700.60 and a 200-day simple moving average of $7,372.84. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $9,964.77. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 11.30 and a beta of 0.94.

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 (EPS) for the quarter, topping the consensus estimate of $104.89 by $3.65. The firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations 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 business posted $120.69 earnings per share. On average, sell-side analysts forecast that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.