Northern Trust Corp Cuts Stake in NVR, Inc. $NVR

Key Points

• Northern Trust Corp has reduced its holdings in NVR, Inc. by 4.7%, owning approximately $241 million worth of shares as of its latest SEC filing.
• NVR recently reported an EPS of $108.54, exceeding analysts' expectations, while its quarterly revenue decreased by 0.5% year-over-year.
• The company has authorized a $750 million share buyback plan, indicating management's belief that the stock is undervalued.

Northern Trust Corp lessened its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,271 shares of the construction company's stock after selling 1,623 shares during the period. Northern Trust Corp owned 1.14% of NVR worth $241,028,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVR. JDM Financial Group LLC acquired a new position in shares of NVR during the 4th quarter valued at $25,000. Olde Wealth Management LLC acquired a new position in shares of NVR during the 1st quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of NVR during the 1st quarter valued at $36,000. Ridgewood Investments LLC lifted its position in shares of NVR by 150.0% during the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after acquiring an additional 3 shares during the period. Finally, SouthState Corp acquired a new position in shares of NVR during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Buying and Selling at NVR

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

NVR Stock Up 3.4%

Shares of NVR stock traded up $269.9250 on Friday, hitting $8,223.8250. The company had a trading volume of 17,357 shares, compared to its average volume of 15,754. 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 stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 11.42 and a beta of 0.94. The stock has a 50 day moving average of $7,660.46 and a 200-day moving average of $7,366.53. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $9,964.77.

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

NVR announced that its board has initiated a stock buyback program on Tuesday, May 6th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVR shares. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. increased their target price on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group increased their target price on NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8,783.33.

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.