Ameriprise Financial Inc. Increases Position in NVR, Inc. $NVR

Key Points

• Ameriprise Financial Inc. increased its stake in NVR, Inc. by 7.7%, owning 9,117 shares valued at approximately $66 million, according to its latest SEC filing.
• Multiple hedge funds have also raised their positions in NVR, with Brighton Jones LLC increasing its stake by 68.9% in the fourth quarter.
• Analysts have recently set new price targets for NVR, raising them to between $7,600 and $8,150, with a consensus rating of "Hold" and an average price target of $8,783.33.

Ameriprise Financial Inc. grew its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,117 shares of the construction company's stock after purchasing an additional 653 shares during the period. Ameriprise Financial Inc. owned approximately 0.31% of NVR worth $66,047,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVR. Spire Wealth Management grew its position in NVR by 21.2% in the first quarter. Spire Wealth Management now owns 63 shares of the construction company's stock worth $456,000 after acquiring an additional 11 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in NVR by 12.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 331 shares of the construction company's stock worth $2,377,000 after acquiring an additional 36 shares in the last quarter. Asset Management One Co. Ltd. grew its position in NVR by 5.2% in the first quarter. Asset Management One Co. Ltd. now owns 1,275 shares of the construction company's stock worth $9,237,000 after acquiring an additional 63 shares in the last quarter. GAMMA Investing LLC grew its position in NVR by 15.8% in the first quarter. GAMMA Investing LLC now owns 22 shares of the construction company's stock worth $159,000 after acquiring an additional 3 shares in the last quarter. Finally, Quantum Capital Management LLC NJ grew its position in NVR by 60.3% in the first quarter. Quantum Capital Management LLC NJ now owns 10,537 shares of the construction company's stock worth $76,334,000 after acquiring an additional 3,965 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVR. JPMorgan Chase & Co. boosted 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 note on Thursday, July 24th. UBS Group boosted 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 note on Thursday, July 24th. Finally, Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, NVR has an average rating of "Hold" and an average target price of $8,783.33.

NVR Trading Up 0.8%

Shares of NYSE:NVR traded up $61.09 during midday trading on Friday, hitting $8,135.89. 13,392 shares of the stock traded hands, compared to its average volume of 16,202. The stock has a market capitalization of $23.35 billion, a PE ratio of 17.17, a P/E/G ratio of 11.23 and a beta of 0.94. The business's 50 day moving average is $7,763.39 and its two-hundred day moving average is $7,385.72. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. NVR, Inc. has a one year low of $6,562.85 and a one year high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings results 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. NVR had a net margin of 14.68% and a return on equity of 37.35%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm earned $120.69 earnings per share. NVR's revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR announced that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,684,800. This represents a 74.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Williamson Ross sold 125 shares of the stock in a transaction dated 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 transaction, the director directly owned 386 shares of the company's stock, valued at approximately $3,030,208.08. The trade was a 24.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 975 shares of company stock valued at $7,869,360 over the last three months. Corporate insiders own 7.00% of the company's stock.

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.