Millennium Management LLC Lowers Stake in NVR, Inc. (NYSE:NVR)

Millennium Management LLC lowered its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 37.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,815 shares of the construction company's stock after selling 1,659 shares during the period. Millennium Management LLC owned 0.09% of NVR worth $23,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of NVR by 150.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5 shares of the construction company's stock worth $41,000 after purchasing an additional 3 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of NVR by 75.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 7 shares of the construction company's stock worth $57,000 after purchasing an additional 3 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of NVR by 60.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 8 shares of the construction company's stock worth $65,000 after purchasing an additional 3 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in shares of NVR by 122.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 20 shares of the construction company's stock worth $164,000 after purchasing an additional 11 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of NVR by 11.1% during the fourth quarter. Quadrant Capital Group LLC now owns 20 shares of the construction company's stock worth $164,000 after purchasing an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

NVR Stock Down 1.5%

NYSE:NVR opened at $7,206.25 on Wednesday. The firm has a market capitalization of $21.07 billion, a P/E ratio of 14.20, a PEG ratio of 2.39 and a beta of 1.02. The company's fifty day moving average price is $7,171.96 and its 200-day moving average price is $7,856.12. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $9,964.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.18 and a quick ratio of 3.69.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The construction company reported $94.83 earnings per share for the quarter, missing the consensus estimate of $107.87 by ($13.04). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. NVR had a return on equity of 39.67% and a net margin of 16.34%. As a group, equities research analysts anticipate that NVR, Inc. will post 505.2 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NVR shares. UBS Group reduced their price target on NVR from $8,900.00 to $7,900.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on NVR from $9,245.00 to $8,570.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, NVR currently has an average rating of "Hold" and an average price target of $9,023.33.

About NVR

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.

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