Nuveen LLC Purchases Shares of 46,240 NVR, Inc. (NYSE:NVR)

Key Points

• Nuveen LLC acquired a new stake in NVR, Inc., purchasing 46,240 shares valued at approximately $334.98 million, which accounts for 1.58% of the company's stock as per its latest SEC filing.
• Analysts have recently upgraded their price targets for NVR, with UBS raising it from $7,900 to $8,150 and JPMorgan from $7,200 to $7,600, while the stock currently holds an average rating of "Hold."
• NVR announced a $750 million share repurchase program, indicating that its leadership believes the stock may be undervalued; this program allows for the buyback of up to 3.6% of its shares.

Nuveen LLC acquired a new position in NVR, Inc. (NYSE:NVR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 46,240 shares of the construction company's stock, valued at approximately $334,981,000. Nuveen LLC owned 1.58% of NVR as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JDM Financial Group LLC acquired a new position in shares of NVR in the 4th quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new position in shares of NVR during the 1st quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in NVR in the first quarter valued at $36,000. Ridgewood Investments LLC lifted its holdings in shares of NVR by 150.0% during the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock worth $36,000 after buying an additional 3 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of NVR in the first quarter valued at about $43,000. 83.67% of the stock is owned by institutional investors.

NVR Trading Down 1.0%

NYSE NVR traded down $84.24 on Thursday, reaching $8,212.41. The company had a trading volume of 14,318 shares, compared to its average volume of 23,090. The firm has a market cap of $23.57 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 11.32 and a beta of 0.94. The business has a 50 day moving average of $7,534.37 and a two-hundred day moving average of $7,362.73. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97. NVR, Inc. has a fifty-two week low of $6,562.85 and a fifty-two week high of $9,964.77.

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

NVR announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

NVR has been the subject of a number of recent analyst reports. UBS Group upped their target price on NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8,783.33.

Insider Buying and Selling

In other news, CAO Matthew B. Kelpy sold 600 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 208 shares in the company, valued at approximately $1,684,800. This trade represents a 74.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director directly owned 386 shares in the company, valued at approximately $3,030,208.08. This represents a 24.46% decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

NVR 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.