JPMorgan Chase & Co. Buys 15,405 Shares of NVR, Inc. (NYSE:NVR)

Key Points

• JPMorgan Chase & Co. has increased its position in NVR, Inc. by 41.6%, now owning approximately 1.77% of the company, valued at $379.6 million.
• NVR's stock was recently upgraded to a "hold" rating by multiple analysts, with a target price increase from $7,200 to $7,600 by JPMorgan Chase.
• The company reported earnings of $108.54 per share for the last quarter, surpassing analysts' expectations, although revenue showed a 0.5% decline year-over-year.

JPMorgan Chase & Co. lifted its holdings in shares of NVR, Inc. (NYSE:NVR - Free Report) by 41.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,404 shares of the construction company's stock after purchasing an additional 15,405 shares during the period. JPMorgan Chase & Co. owned about 1.77% of NVR worth $379,639,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Spire Wealth Management increased its position in shares of NVR by 21.2% during the first quarter. Spire Wealth Management now owns 63 shares of the construction company's stock valued at $456,000 after buying an additional 11 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NVR by 12.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 331 shares of the construction company's stock valued at $2,377,000 after buying an additional 36 shares during the period. Asset Management One Co. Ltd. increased its position in shares of NVR by 5.2% during the first quarter. Asset Management One Co. Ltd. now owns 1,275 shares of the construction company's stock valued at $9,237,000 after buying an additional 63 shares during the period. GAMMA Investing LLC increased its position in shares of NVR by 15.8% during the first quarter. GAMMA Investing LLC now owns 22 shares of the construction company's stock valued at $159,000 after buying an additional 3 shares during the period. Finally, Vise Technologies Inc. increased its position in shares of NVR by 105.7% during the fourth quarter. Vise Technologies Inc. now owns 109 shares of the construction company's stock valued at $892,000 after buying an additional 56 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

NVR Stock Up 0.3%

NVR traded up $28.23 during trading on Friday, reaching $8,226.78. The stock had a trading volume of 14,918 shares, compared to its average volume of 16,915. The stock's 50 day moving average is $7,577.10 and its two-hundred day moving average is $7,358.48. 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 $23.61 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 11.78 and a beta of 0.94. NVR, Inc. has a one year low of $6,562.85 and a one year 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 (EPS) for the quarter, topping analysts' consensus estimates of $104.89 by $3.65. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.46 billion. NVR had a return on equity of 37.35% and a net margin of 14.68%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $120.69 earnings per share. As a group, analysts expect that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR announced that its board has approved a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the construction company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at NVR

In related news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total value of $981,285.00. Following the completion of the sale, the director directly owned 386 shares in the company, valued at approximately $3,030,208.08. This trade represents a 24.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of NVR stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

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.