Ethic Inc. Sells 72 Shares of NVR, Inc. $NVR

Key Points

• Ethic Inc. reduced its holdings in NVR, Inc. by 25.3%, owning 213 shares after selling 72 shares, bringing their investment value to approximately $1.54 million.
• Several institutional investors, including JDM Financial Group and Ridgewood Investments, have made new positions or increased their holdings in NVR, which is currently 83.67% owned by such entities.
• NVR's stock received multiple rating adjustments, with JPMorgan boosting its price target to $7,600 and UBS raising it to $8,150, while the average consensus target stands at $8,783.33.

Ethic Inc. cut its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 25.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213 shares of the construction company's stock after selling 72 shares during the period. Ethic Inc.'s holdings in NVR were worth $1,537,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NVR. GAMMA Investing LLC grew its position in NVR by 838,726.3% in the first quarter. GAMMA Investing LLC now owns 159,377 shares of the construction company's stock worth $1,154,589,000 after acquiring an additional 159,358 shares in the last quarter. Siemens Fonds Invest GmbH grew its position in NVR by 116,808.2% in the fourth quarter. Siemens Fonds Invest GmbH now owns 57,285 shares of the construction company's stock worth $468,528,000 after acquiring an additional 57,236 shares in the last quarter. Nuveen LLC bought a new stake in NVR in the first quarter worth approximately $334,981,000. JPMorgan Chase & Co. grew its position in NVR by 41.6% in the first quarter. JPMorgan Chase & Co. now owns 52,404 shares of the construction company's stock worth $379,639,000 after acquiring an additional 15,405 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in NVR in the fourth quarter worth approximately $118,087,000. 83.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Matthew B. Kelpy sold 600 shares of the 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 transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This represents a 74.26% decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction of $981,285.00. Following the completion of the transaction, the director owned 386 shares of the company's stock, 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. Corporate insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on NVR shares. Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of 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 upped their price objective on shares of NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $8,783.33.

NVR Stock Performance

NYSE:NVR traded up $269.9250 during trading hours on Friday, hitting $8,223.8250. 17,357 shares of the company traded hands, compared to its average volume of 15,754. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 11.06 and a beta of 0.94. NVR, Inc. has a twelve month low of $6,562.85 and a twelve month high of $9,964.77. The firm has a 50-day moving average of $7,660.46 and a 200 day moving average of $7,369.45. The company has a current ratio of 5.79, a quick ratio of 2.97 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR - Get Free Report) last released 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. The firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. NVR had a net margin of 14.68% and a return on equity of 37.35%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $120.69 EPS. On average, analysts forecast that NVR, Inc. will post 505.2 EPS for the current year.

NVR declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.