Munich Reinsurance Co Stock Corp in Munich Takes $2.23 Million Position in NVR, Inc. $NVR

Key Points

• Munich Re acquired a new stake in NVR, buying 278 shares worth approximately $2.23 million in the third quarter, according to its latest 13F filing.
• NVR beat quarterly estimates with $121.54 EPS (vs. $105.42 expected) and revenue of $2.74 billion (vs. $2.41 billion expected), though revenue was down 5.2% year-over-year.
• The board authorized a $750 million share buyback (about 3.3% of shares) on Feb. 11, signaling management believes the stock may be undervalued.

Munich Reinsurance Co Stock Corp in Munich acquired a new position in NVR, Inc. (NYSE:NVR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 278 shares of the construction company's stock, valued at approximately $2,234,000.

A number of other large investors have also recently bought and sold shares of NVR. Assetmark Inc. increased its holdings in NVR by 50.0% in the 2nd quarter. Assetmark Inc. now owns 6 shares of the construction company's stock worth $44,000 after buying an additional 2 shares during the period. State of Wyoming acquired a new stake in NVR during the 2nd quarter valued at approximately $44,000. Zions Bancorporation National Association UT lifted its stake in NVR by 600.0% during the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company's stock valued at $56,000 after acquiring an additional 6 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of NVR in the 2nd quarter valued at $59,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of NVR in the second quarter worth $66,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

NVR Stock Down 1.6%

NVR opened at $6,958.28 on Friday. NVR, Inc. has a fifty-two week low of $6,562.85 and a fifty-two week high of $8,618.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.71 and a current ratio of 6.21. The company has a fifty day moving average of $7,552.24 and a two-hundred day moving average of $7,651.93. The stock has a market capitalization of $19.41 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.37 and a beta of 1.04.

NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, beating analysts' consensus estimates of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period last year, the firm earned $139.93 EPS. The company's quarterly revenue was down 5.2% on a year-over-year basis. On average, research analysts expect that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR declared that its board has authorized a share buyback program on Wednesday, February 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zelman & Associates raised 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of NVR in a report on Thursday, January 22nd. Truist Financial began coverage on NVR in a research report on Wednesday. They set a "hold" rating and a $7,700.00 price target on the stock. BTIG Research assumed coverage on NVR in a research note on Monday, December 1st. They set a "buy" rating and a $9,022.00 price objective for the company. Finally, UBS Group set a $8,100.00 price objective on NVR in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, NVR currently has a consensus rating of "Hold" and an average price target of $8,182.83.

Insider Buying and Selling

In other news, CAO Matthew B. Kelpy sold 500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. This represents a 70.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan Williamson Ross sold 220 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the transaction, the director owned 386 shares in the company, valued at $3,088,000. This trade represents a 36.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,120 shares of company stock worth $9,012,736 in the last quarter. 7.00% of the stock is currently owned by company insiders.

About NVR

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.

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