NVR, Inc. (NYSE:NVR) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in NVR, Inc. by 25.5%, owning 1,906 shares valued at $13.8 million as of the most recent reporting period.
• NVR reported a quarterly earnings per share of $108.54, surpassing estimates, with a net margin of 14.68% and revenue of $2.55 billion.
• The company has initiated a stock repurchase plan to buy back up to $750 million in shares, indicating confidence in its current stock valuation.

Mackenzie Financial Corp lifted its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 25.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,906 shares of the construction company's stock after acquiring an additional 387 shares during the period. Mackenzie Financial Corp owned 0.06% of NVR worth $13,808,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JDM Financial Group LLC purchased a new stake in shares of NVR in the 4th quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of NVR during the first quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in NVR in the first quarter worth about $36,000. Ridgewood Investments LLC grew its holdings in NVR by 150.0% during the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock worth $36,000 after acquiring an additional 3 shares in the last quarter. Finally, CX Institutional bought a new position in NVR during the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

NVR Price Performance

NYSE NVR traded up $211.18 on Friday, hitting $7,760.67. The company had a trading volume of 15,030 shares, compared to its average volume of 18,184. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $9,964.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97. The company's fifty day moving average price is $7,388.93 and its 200-day moving average price is $7,387.52. The company has a market capitalization of $22.66 billion, a PE ratio of 16.38, a PEG ratio of 10.73 and a beta of 0.94.

NVR (NYSE:NVR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $104.89 by $3.65. NVR had a return on equity of 37.35% and a net margin of 14.68%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business earned $120.69 earnings per share. The business's revenue was down .5% compared to the same quarter last year. As a group, analysts predict that NVR, Inc. will post 505.2 earnings per share for the current year.

NVR declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVR. UBS Group lifted their price objective 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. Wall Street Zen cut NVR from a "hold" rating to a "sell" rating in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, NVR presently has an average rating of "Hold" and a consensus target price of $8,783.33.

About NVR

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.