Smead Capital Management Inc. Sells 3,072 Shares of NVR, Inc. $NVR

Key Points

• Smead Capital Management Inc. reduced its stake in NVR, Inc. by 8.7%, now holding approximately 1.10% of the company's stock valued at $233.87 million.
• Insider transactions included the sale of 975 shares by company executives, signaling a significant reduction in their holdings, with insiders now owning 7.00% of the stock.
• Several analysts raised their ratings for NVR, with UBS increasing the target price from $7,900 to $8,150, and the stock currently has a consensus target price of $8,783.33.

Smead Capital Management Inc. lessened its stake in NVR, Inc. (NYSE:NVR - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,283 shares of the construction company's stock after selling 3,072 shares during the quarter. NVR comprises 4.0% of Smead Capital Management Inc.'s investment portfolio, making the stock its 13th biggest position. Smead Capital Management Inc. owned 1.10% of NVR worth $233,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NVR. JDM Financial Group LLC bought a new stake in shares of NVR during the 4th quarter worth approximately $25,000. Olde Wealth Management LLC bought a new stake in NVR during the first quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in NVR during the first quarter worth $36,000. Ridgewood Investments LLC boosted its holdings in shares of NVR by 150.0% in the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after purchasing an additional 3 shares in the last quarter. Finally, SouthState Corp bought a new position in shares of NVR in the 1st quarter valued at $36,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CAO Matthew B. Kelpy sold 600 shares of NVR stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the transaction, the chief accounting officer owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 74.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra A. Jung sold 200 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $8,082.44, for a total value of $1,616,488.00. Following the transaction, the director owned 75 shares in the company, valued at approximately $606,183. This trade represents a 72.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 975 shares of company stock worth $7,869,360 in the last quarter. Insiders own 7.80% of the company's stock.

NVR Stock Up 0.6%

Shares of NVR traded up $46.17 during trading hours on Tuesday, reaching $8,163.82. The stock had a trading volume of 10,304 shares, compared to its average volume of 22,609. The firm has a 50-day simple moving average of $7,779.25 and a 200 day simple moving average of $7,392.12. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The company has a current ratio of 5.79, a quick ratio of 2.97 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $23.43 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 11.29 and a beta of 0.95.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share for the quarter, topping the consensus estimate of $104.89 by $3.65. NVR had a net margin of 14.68% and a return on equity of 37.35%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company posted $120.69 earnings per share. The business's revenue was down .5% on a year-over-year basis. Equities research analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management 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.