Mirae Asset Global Investments Co. Ltd. Makes New Investment in NVR, Inc. $NVR

Key Points

• Mirae Asset Global Investments opened a position in NVR, buying 909 shares valued at approximately $5.6 million. Institutional investors collectively own 83.67% of the company’s stock.
• NVR’s latest quarter fell short of expectations: EPS was $89.45 versus a $102.77 estimate, and revenue of $2.42 billion was below the $2.57 billion forecast, down 8.2% year over year.
• Analyst sentiment is cautious, with MarketBeat reporting a consensus “Reduce” rating. Two analysts rate NVR a Buy, three a Hold, and three a Sell; the average price target is $6,564.83.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NVR, Inc. (NYSE:NVR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 909 shares of the construction company's stock, valued at approximately $5,594,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearstead Trust LLC purchased a new stake in NVR during the second quarter valued at about $27,000. Activest Wealth Management bought a new stake in NVR during the third quarter worth about $25,000. Trust Co. of Vermont bought a new stake in NVR during the second quarter worth about $34,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in NVR during the second quarter worth about $34,000. Finally, Global Retirement Partners LLC bought a new stake in NVR during the second quarter worth about $41,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVR. Wall Street Zen lowered NVR from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Truist Financial dropped their target price on NVR from $6,600.00 to $6,400.00 and set a "hold" rating for the company in a research report on Friday, July 24th. Bank of America downgraded NVR from a "buy" rating to an "underperform" rating and set a $5,900.00 target price for the company. in a research report on Friday, October 23rd. Morgan Stanley cut their target price on NVR from $5,058.00 to $4,864.00 and set an "underweight" rating for the company in a research note on Tuesday. Finally, BTIG Research reiterated a "buy" rating on shares of NVR in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $6,564.83.

NVR Stock Performance

NVR stock opened at $6,424.97 on Friday. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $17.09 billion, a PE ratio of 17.71 and a beta of 0.93. The firm has a fifty day simple moving average of $6,109.63 and a two-hundred day simple moving average of $6,530.66. NVR, Inc. has a twelve month low of $5,501.01 and a twelve month high of $8,200.00.

NVR (NYSE:NVR - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The construction company reported $89.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $102.77 by ($13.32). NVR had a net margin of 11.51% and a return on equity of 29.23%. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the company earned $112.33 earnings per share. The business's quarterly revenue was down 8.2% on a year-over-year basis. Research analysts expect that NVR, Inc. will post 345.15 EPS for the current year.

NVR Company Profile

NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs and constructs single-family detached homes, townhomes and condominiums for buyers in a range of residential markets.

NVR markets homes primarily under the Ryan Homes, NVHomes and Heartland Homes brands. Ryan Homes generally serves a broad range of buyers, while NVHomes focuses on higher-end communities. The company's homebuilding operations serve selected markets across the Mid-Atlantic, Midwest and Southeast regions of the United States.

Through NVR Mortgage, the company provides mortgage loan origination services to many of its homebuyers.

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