Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in NVR, Inc. $NVR

Key Points

• Mitsubishi UFJ Asset Management increased its stake in NVR by 4.6% in the fourth quarter, ending with 5,896 shares valued at about $42.9 million. Institutional investors overall still own a large majority of the company, at 83.67%.
• NVR reported weaker-than-expected quarterly results, with earnings per share of $67.76 versus analyst estimates of $79.97 and revenue of $1.91 billion versus $2.09 billion expected. Revenue fell 21.7% from a year earlier.
• The company authorized a $750 million share buyback in February, signaling management’s view that the stock may be undervalued. Meanwhile, analysts remain cautious overall, with a consensus rating of “Hold” and a consensus price target of $7,649.33.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,896 shares of the construction company's stock after buying an additional 261 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of NVR worth $42,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVR. Oakworth Capital Inc. purchased a new stake in shares of NVR during the fourth quarter worth about $36,000. State of Wyoming purchased a new stake in NVR in the second quarter valued at approximately $44,000. USA Financial Formulas grew its holdings in NVR by 75.0% in the fourth quarter. USA Financial Formulas now owns 7 shares of the construction company's stock valued at $51,000 after purchasing an additional 3 shares during the period. Zions Bancorporation National Association UT grew its holdings in NVR by 600.0% in the third quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company's stock valued at $56,000 after purchasing an additional 6 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new stake in NVR in the third quarter valued at approximately $56,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVR

In other news, Director Michael J. Devito bought 11 shares of NVR stock in a transaction dated Friday, April 24th. The shares were acquired at an average cost of $6,699.50 per share, with a total value of $73,694.50. Following the completion of the transaction, the director owned 25 shares in the company, valued at approximately $167,487.50. This trade represents a 78.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew B. Kelpy sold 500 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $1,684,800. The trade was a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 8.60% of the company's stock.

NVR Trading Down 0.6%

Shares of NVR stock opened at $5,973.63 on Friday. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 4.37 and a beta of 0.95. The company has a quick ratio of 3.71, a current ratio of 5.19 and a debt-to-equity ratio of 0.26. NVR, Inc. has a fifty-two week low of $5,930.00 and a fifty-two week high of $8,618.28. The firm's 50 day moving average price is $6,692.26 and its two-hundred day moving average price is $7,212.09.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share for the quarter, missing analysts' consensus estimates of $79.97 by ($12.21). The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $2.09 billion. NVR had a net margin of 12.93% and a return on equity of 32.66%. The company's quarterly revenue was down 21.7% on a year-over-year basis. During the same period last year, the firm earned $94.83 earnings per share. On average, analysts anticipate that NVR, Inc. will post 380.26 EPS for the current year.

NVR declared that its board has approved a share repurchase program on Wednesday, February 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

NVR has been the subject of a number of recent analyst reports. Truist Financial lowered their target price on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. UBS Group lowered their target price on shares of NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Zelman & Associates upgraded shares of NVR from a "sell" rating to a "hold" rating and set a $7,675.00 target price for the company in a report on Thursday, January 29th. Bank of America lowered their target price on shares of NVR from $8,600.00 to $8,225.00 and set a "buy" rating for the company in a report on Monday, April 20th. Finally, Weiss Ratings downgraded shares of NVR from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NVR currently has a consensus rating of "Hold" and a consensus price target of $7,649.33.

NVR Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR's homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.