NVR, Inc. $NVR Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets cut its NVR position by 22% in the fourth quarter, though it still held 6,682 shares worth about $48.7 million at quarter-end.
• NVR reported weaker-than-expected quarterly results, with EPS of $67.76 versus estimates of $79.97 and revenue of $1.91 billion versus $2.09 billion expected; revenue also fell 21.7% from a year earlier.
• Analysts remain cautious overall, with a consensus “Hold” rating and a price target of $7,649.33, while NVR’s board has authorized a $750 million share repurchase plan.

BNP Paribas Financial Markets lessened its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 22.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,682 shares of the construction company's stock after selling 1,881 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.24% of NVR worth $48,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVR. M&T Bank Corp raised its stake in shares of NVR by 34,923.5% during the 4th quarter. M&T Bank Corp now owns 56,738 shares of the construction company's stock worth $413,777,000 after buying an additional 56,576 shares during the last quarter. Norges Bank acquired a new stake in shares of NVR during the fourth quarter valued at $311,496,000. Close Asset Management Ltd acquired a new stake in shares of NVR during the third quarter valued at $148,939,000. Citadel Advisors LLC boosted its stake in shares of NVR by 318.4% during the third quarter. Citadel Advisors LLC now owns 19,215 shares of the construction company's stock valued at $154,386,000 after acquiring an additional 14,623 shares during the last quarter. Finally, Newport Capital Group LLC acquired a new stake in shares of NVR during the fourth quarter valued at $106,372,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Transactions at NVR

In related news, Director Michael J. Devito purchased 11 shares of the 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 approximately $167,487.50. This trade represents a 78.57% increase 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. Corporate insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on NVR. Truist Financial decreased their price objective on NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Bank of America decreased their price objective on NVR from $8,600.00 to $8,225.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Seaport Research Partners reaffirmed a "sell" rating and set a $5,664.00 price objective on shares of NVR in a research note on Tuesday, April 7th. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered NVR from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7,649.33.

NVR Stock Performance

NVR stock opened at $6,184.10 on Wednesday. The stock's 50-day moving average is $6,357.29 and its 200-day moving average is $7,038.37. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 4.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.19 and a quick ratio of 2.67. NVR, Inc. has a 12 month low of $5,501.01 and a 12 month high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing analysts' consensus estimates of $79.97 by ($12.21). The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations 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 business earned $94.83 earnings per share. Equities analysts anticipate that NVR, Inc. will post 375.15 earnings per share for the current year.

NVR announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

NVR Profile

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.