M&T Bank Corp Sells 37 Shares of NVR, Inc. (NYSE:NVR)

M&T Bank Corp lessened its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 11.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281 shares of the construction company's stock after selling 37 shares during the period. M&T Bank Corp's holdings in NVR were worth $2,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVR. Crossmark Global Holdings Inc. raised its position in NVR by 67.1% during the first quarter. Crossmark Global Holdings Inc. now owns 264 shares of the construction company's stock valued at $1,913,000 after purchasing an additional 106 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of NVR by 8.8% in the 1st quarter. TD Private Client Wealth LLC now owns 136 shares of the construction company's stock valued at $985,000 after purchasing an additional 11 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of NVR by 9.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,587 shares of the construction company's stock worth $62,204,000 after buying an additional 720 shares in the last quarter. Crew Capital Management Ltd. lifted its position in shares of NVR by 5.8% during the 1st quarter. Crew Capital Management Ltd. now owns 127 shares of the construction company's stock worth $920,000 after buying an additional 7 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in NVR in the first quarter valued at about $36,000. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Trading Up 1.1%

Shares of NVR stock traded up $82.24 during midday trading on Wednesday, reaching $7,383.24. The company had a trading volume of 18,096 shares, compared to its average volume of 24,095. The stock has a fifty day moving average price of $7,284.65 and a 200 day moving average price of $7,413.18. NVR, Inc. has a fifty-two week low of $6,562.85 and a fifty-two week high of $9,964.77. The firm has a market cap of $21.59 billion, a PE ratio of 15.19, a P/E/G ratio of 4.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.37 and a quick ratio of 3.02.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $94.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $107.87 by ($13.04). The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.35 billion. NVR had a return on equity of 38.32% and a net margin of 15.33%. On average, equities analysts anticipate that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR declared that its board has initiated a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy 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 shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on NVR shares. UBS Group lowered their target price on NVR from $8,900.00 to $7,900.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen cut shares of NVR from a "hold" rating to a "sell" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.