Neuberger Berman Group LLC Cuts Stock Holdings in NVR, Inc. $NVR

Key Points

• Neuberger Berman Group LLC decreased its holdings in NVR, Inc. by 27.3% during the 1st quarter, ending up with 622 shares valued at approximately $4.5 million.
• Institutional investors own a significant portion of NVR, with 83.67% of the company’s stock held by these investors, demonstrating strong institutional support.
• NVR's board approved a $750 million stock repurchase program, indicating confidence in the company’s valuation and plans to buy back up to 3.6% of its outstanding shares.

Neuberger Berman Group LLC reduced its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 27.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 622 shares of the construction company's stock after selling 233 shares during the period. Neuberger Berman Group LLC's holdings in NVR were worth $4,506,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JDM Financial Group LLC bought a new position in NVR in the fourth quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in NVR in the first quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in NVR in the first quarter worth approximately $36,000. Ridgewood Investments LLC raised its position in NVR by 150.0% in the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock worth $36,000 after acquiring an additional 3 shares during the period. Finally, SouthState Corp bought a new position in NVR in the first quarter worth approximately $36,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NVR. UBS Group increased their price target on shares of NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $8,783.33.

Insiders Place Their Bets

In other news, Director Susan Williamson Ross sold 125 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $7,850.28, for a total value of $981,285.00. Following the completion of the sale, the director directly owned 386 shares of the company's stock, valued at $3,030,208.08. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew B. Kelpy sold 600 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the transaction, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 74.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

NVR Price Performance

Shares of NYSE NVR traded down $227.2880 during midday trading on Wednesday, reaching $8,019.6020. The stock had a trading volume of 17,843 shares, compared to its average volume of 16,575. The stock has a 50-day moving average of $7,629.46 and a 200-day moving average of $7,364.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.97 and a current ratio of 5.79. The company has a market capitalization of $23.02 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 11.47 and a beta of 0.94. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $104.89 by $3.65. The firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. NVR had a net margin of 14.68% and a return on equity of 37.35%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $120.69 earnings per share. As a group, research analysts anticipate that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

NVR Company Profile

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.