Nordea Investment Management AB Purchases 3,456 Shares of NVR, Inc. $NVR

Key Points

• Nordea Investment Management AB raised its position in NVR by 368.4%, acquiring 3,456 shares to hold 4,394 shares worth about $32.18 million (~0.15% of the company).
• NVR posted an EPS beat of $121.54 versus $105.42 and revenue of $2.74 billion (above estimates), though revenue was down 5.2% year‑over‑year.
• The board authorized a $750 million share repurchase (about 3.3% of shares) while insiders sold 1,120 shares totaling roughly <$9.01 million> in the last quarter.

Nordea Investment Management AB raised its position in NVR, Inc. (NYSE:NVR - Free Report) by 368.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,394 shares of the construction company's stock after acquiring an additional 3,456 shares during the period. Nordea Investment Management AB owned about 0.15% of NVR worth $32,182,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of NVR by 68.9% in the fourth quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock valued at $622,000 after purchasing an additional 31 shares in the last quarter. Woodline Partners LP lifted its position in NVR by 28.4% in the first quarter. Woodline Partners LP now owns 253 shares of the construction company's stock worth $1,833,000 after purchasing an additional 56 shares during the period. TD Waterhouse Canada Inc. boosted its stake in NVR by 5.9% during the second quarter. TD Waterhouse Canada Inc. now owns 36 shares of the construction company's stock worth $276,000 after buying an additional 2 shares in the last quarter. Swiss National Bank boosted its stake in NVR by 4.1% during the second quarter. Swiss National Bank now owns 8,990 shares of the construction company's stock worth $66,397,000 after buying an additional 350 shares in the last quarter. Finally, Mufg Securities Americas Inc. increased its holdings in NVR by 22.6% in the 2nd quarter. Mufg Securities Americas Inc. now owns 65 shares of the construction company's stock valued at $480,000 after buying an additional 12 shares during the period. Institutional investors own 83.67% of the company's stock.

NVR Trading Up 2.6%

Shares of NVR opened at $6,535.68 on Tuesday. 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 market cap of $18.17 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.17 and a beta of 1.04. The stock has a fifty day moving average price of $7,379.78 and a two-hundred day moving average price of $7,526.94. NVR, Inc. has a 52-week low of $6,301.02 and a 52-week high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last announced its earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same quarter in the prior year, the business earned $139.93 earnings per share. The business's revenue for the quarter was down 5.2% on a year-over-year basis. Analysts predict that NVR, Inc. will post 505.2 EPS for the current fiscal year.

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

Insider Activity

In other NVR news, Director Susan Williamson Ross sold 220 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total transaction of $1,760,000.00. Following the sale, the director owned 386 shares of the company's stock, valued at $3,088,000. This represents a 36.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew B. Kelpy sold 500 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 70.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,120 shares of company stock worth $9,012,736. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVR shares. Weiss Ratings restated a "hold (c+)" rating on shares of NVR in a research note on Thursday, January 22nd. UBS Group set a $8,100.00 target price on shares of NVR in a research report on Friday, February 13th. Zelman & Associates raised shares of NVR from a "sell" rating to a "hold" rating and set a $7,675.00 price target for the company in a research report on Thursday, January 29th. Truist Financial started coverage on shares of NVR in a research note on Wednesday, March 4th. They set a "hold" rating and a $7,700.00 price target for the company. Finally, Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8,182.83.

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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