NVR, Inc. $NVR Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its NVR stake by 9.1% in the first quarter, selling 1,400 shares and leaving it with 13,918 shares valued at about $91.7 million.
• NVR’s latest earnings missed estimates, with quarterly EPS of $67.76 versus $79.97 expected and revenue of $1.91 billion versus $2.09 billion projected. Revenue fell 21.7% from the same quarter a year earlier.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average target price of $7,649.33, while recent opinions ranged from buy to sell.

Assenagon Asset Management S.A. trimmed its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,918 shares of the construction company's stock after selling 1,400 shares during the period. Assenagon Asset Management S.A. owned about 0.50% of NVR worth $91,717,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of NVR by 68.9% during 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 during the last quarter. Woodline Partners LP raised its holdings in shares of NVR by 28.4% during the first quarter. Woodline Partners LP now owns 253 shares of the construction company's stock valued at $1,833,000 after acquiring an additional 56 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of NVR by 100.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10 shares of the construction company's stock valued at $75,000 after acquiring an additional 5 shares in the last quarter. Cerity Partners LLC boosted its stake in NVR by 7.9% in the 2nd quarter. Cerity Partners LLC now owns 409 shares of the construction company's stock worth $3,021,000 after purchasing an additional 30 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in NVR by 3.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 449 shares of the construction company's stock worth $3,316,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

NVR Price Performance

Shares of NVR opened at $6,754.66 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.67 and a current ratio of 5.19. The firm has a market cap of $18.24 billion, a PE ratio of 16.47, a PEG ratio of 4.74 and a beta of 0.93. The firm's 50 day moving average price is $6,270.04 and its 200 day moving average price is $6,915.41. NVR, Inc. has a twelve month low of $5,501.01 and a twelve month high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing the consensus estimate of $79.97 by ($12.21). The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $2.09 billion. NVR had a return on equity of 32.66% and a net margin of 12.93%.The business's revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $94.83 EPS. As a group, research analysts expect that NVR, Inc. will post 372.53 EPS for the current fiscal year.

Insider Buying and Selling at NVR

In related news, Director Michael J. Devito bought 11 shares of NVR stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the acquisition, the director owned 25 shares in the company, valued at $167,487.50. This trade represents a 78.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NVR. BTIG Research reaffirmed a "buy" rating and issued a $8,096.00 target price on shares of NVR in a research report on Wednesday, April 22nd. Bank of America decreased their price objective on NVR from $8,600.00 to $8,225.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Truist Financial dropped their target price on NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Seaport Research Partners reaffirmed a "sell" rating and set a $5,664.00 price objective on shares of NVR in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7,649.33.

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.

Want to see what other hedge funds are holding NVR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVR, Inc. (NYSE:NVR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.