NVR, Inc. $NVR Stock Holdings Trimmed by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its NVR position by 28.3% in the fourth quarter, selling 465 shares and leaving it with 1,181 shares worth about $8.6 million.
• NVR reported weaker-than-expected quarterly results, with EPS of $67.76 versus the $79.97 estimate and revenue of $1.91 billion versus $2.09 billion expected; revenue fell 21.7% year over year.
• The company also announced a $750 million stock buyback, while Wall Street sentiment remains cautious with an average Hold rating and a consensus price target of $7,649.33.

Handelsbanken Fonder AB reduced its position in NVR, Inc. (NYSE:NVR - Free Report) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,181 shares of the construction company's stock after selling 465 shares during the quarter. Handelsbanken Fonder AB's holdings in NVR were worth $8,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVR. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of NVR during the fourth quarter valued at approximately $11,610,000. Principal Financial Group Inc. grew its holdings in shares of NVR by 4.0% during the third quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company's stock valued at $484,546,000 after purchasing an additional 2,331 shares during the last quarter. Alberta Investment Management Corp bought a new position in shares of NVR during the third quarter valued at approximately $4,017,000. American Century Companies Inc. grew its holdings in shares of NVR by 17.0% during the third quarter. American Century Companies Inc. now owns 6,370 shares of the construction company's stock valued at $51,181,000 after purchasing an additional 925 shares during the last quarter. Finally, iA Global Asset Management Inc. bought a new position in shares of NVR during the third quarter valued at approximately $691,000. 83.67% of the stock is owned by institutional investors.

NVR Stock Performance

Shares of NYSE NVR opened at $6,046.36 on Friday. The company has a current ratio of 5.19, a quick ratio of 2.67 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $6,416.75 and a 200-day simple moving average of $7,093.67. The company has a market cap of $16.33 billion, a PE ratio of 14.74, a P/E/G ratio of 4.41 and a beta of 0.95. 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 issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (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 quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $94.83 earnings per share. On average, equities research analysts forecast that NVR, Inc. will post 375.15 EPS for the current year.

NVR declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group lowered their target price on NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Truist Financial lowered their target price on NVR from $7,100.00 to $6,600.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. Weiss Ratings lowered NVR from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday, May 7th. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Bank of America lowered their target price on NVR from $8,600.00 to $8,225.00 and set a "buy" rating for the company in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NVR currently has an average rating of "Hold" and a consensus target price of $7,649.33.

Insider Activity

In other NVR news, Director Michael J. Devito acquired 11 shares of NVR stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the completion of the transaction, the director owned 25 shares in the company, valued at approximately $167,487.50. This represents a 78.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.60% of the company's stock.

NVR Company 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.

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