Swiss National Bank Decreases Stock Holdings in NVR, Inc. (NYSE:NVR)

Key Points

• Swiss National Bank reduced its stake in NVR, Inc. by 0.6%, owning 8,640 shares valued at approximately $62.6 million after the sale.
• NVR reported EPS of $108.54 for the most recent quarter, exceeding expectations, with revenues of $2.55 billion.
• The company has launched a $750 million stock repurchase program, indicating confidence that its stock is undervalued.

Swiss National Bank lessened its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,640 shares of the construction company's stock after selling 50 shares during the quarter. Swiss National Bank owned about 0.29% of NVR worth $62,592,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in NVR by 838,726.3% in the 1st quarter. GAMMA Investing LLC now owns 159,377 shares of the construction company's stock valued at $1,154,589,000 after purchasing an additional 159,358 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in NVR by 116,808.2% in the 4th quarter. Siemens Fonds Invest GmbH now owns 57,285 shares of the construction company's stock valued at $468,528,000 after purchasing an additional 57,236 shares during the period. Citadel Advisors LLC bought a new position in NVR in the 4th quarter valued at $118,087,000. Pacer Advisors Inc. boosted its holdings in NVR by 5,411.1% in the 1st quarter. Pacer Advisors Inc. now owns 14,384 shares of the construction company's stock valued at $104,203,000 after purchasing an additional 14,123 shares during the period. Finally, Capital Research Global Investors boosted its holdings in NVR by 11.7% in the 4th quarter. Capital Research Global Investors now owns 107,606 shares of the construction company's stock valued at $880,099,000 after purchasing an additional 11,274 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insiders Place Their Bets

In related news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction on Monday, August 4th. The shares were sold at an average price of $7,850.28, for a total value of $981,285.00. Following the transaction, the director owned 386 shares in the company, valued at $3,030,208.08. This trade represents a 24.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of NVR stock in a transaction 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 completion of the transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. The trade was a 74.26% decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

NVR has been the subject of several analyst reports. Wall Street Zen raised shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group raised their price target on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8,783.33.

NVR Price Performance

Shares of NVR stock traded up $11.62 on Friday, hitting $8,210.17. 3,820 shares of the company traded hands, compared to its average volume of 22,962. The firm's 50-day simple moving average is $7,554.62 and its 200 day simple moving average is $7,361.57. 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 cap of $23.56 billion, a P/E ratio of 17.33, a P/E/G ratio of 11.87 and a beta of 0.94. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share for the quarter, beating the consensus estimate of $104.89 by $3.65. The firm had revenue of $2.55 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $120.69 EPS. Analysts expect that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its board has initiated a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are 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.