NVR, Inc. (NYSE:NVR) Shares Acquired by Westpac Banking Corp

Key Points

• Westpac Banking Corp increased its stake in NVR, Inc. by 24.8%, holding 523 shares valued at approximately $3.79 million as per its latest filing.
• Other institutional investors like GAMMA Investing and Siemens Fonds significantly increased their holdings in NVR, with GAMMA's stake growing by a staggering 838,726.3% during the first quarter.
• NVR recently announced a $750 million stock buyback program, signaling management's belief that the company's shares are undervalued.

Westpac Banking Corp boosted its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 24.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523 shares of the construction company's stock after purchasing an additional 104 shares during the period. Westpac Banking Corp's holdings in NVR were worth $3,789,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in NVR by 838,726.3% during 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 last quarter. Capital Research Global Investors grew its holdings in NVR by 11.7% during 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 last quarter. Siemens Fonds Invest GmbH grew its holdings in NVR by 116,808.2% during 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 last quarter. Principal Financial Group Inc. grew its holdings in NVR by 5.3% during the 1st quarter. Principal Financial Group Inc. now owns 56,352 shares of the construction company's stock valued at $408,236,000 after purchasing an additional 2,814 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in NVR by 41.6% in the 1st quarter. JPMorgan Chase & Co. now owns 52,404 shares of the construction company's stock valued at $379,639,000 after buying an additional 15,405 shares during the period. 83.67% of the stock is currently owned by institutional investors.

NVR Trading Up 0.3%

NVR stock traded up $28.23 during trading on Friday, reaching $8,226.78. 14,918 shares of the stock were exchanged, compared to its average volume of 23,036. 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 business has a 50 day moving average price of $7,554.62 and a 200-day moving average price of $7,361.57. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $9,964.77. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 11.87 and a beta of 0.94.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $108.54 earnings per share for the quarter, beating analysts' consensus estimates of $104.89 by $3.65. The business had revenue of $2.55 billion during 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 revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $120.69 earnings per share. On average, research 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 stock 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 repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction that occurred 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 completion of the transaction, the director owned 386 shares in the company, valued at approximately $3,030,208.08. The trade was a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew B. Kelpy sold 600 shares of the business's 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. This trade represents a 74.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

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.