Citigroup Inc. Increases Stock Position in NVR, Inc. (NYSE:NVR)

Key Points

• Citigroup Inc. has increased its stake in NVR, Inc. by 20.7%, holding approximately 5,753 shares valued at $41.68 million as of the latest SEC filing.
• Various hedge funds have also significantly increased their positions in NVR, with GAMMA Investing LLC raising its stake by an astounding 838,726.3%, now owning shares worth about $1.15 billion.
• NVR reported earnings per share of $108.54 for the last quarter, exceeding estimates, despite a 0.5% year-over-year revenue decrease.

Citigroup Inc. grew its position in NVR, Inc. (NYSE:NVR - Free Report) by 20.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,753 shares of the construction company's stock after acquiring an additional 986 shares during the quarter. Citigroup Inc. owned 0.19% of NVR worth $41,677,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NVR. GAMMA Investing LLC boosted its position in shares of NVR by 838,726.3% in the 1st quarter. GAMMA Investing LLC now owns 159,377 shares of the construction company's stock worth $1,154,589,000 after purchasing an additional 159,358 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of 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 acquiring an additional 57,236 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of NVR in the 4th quarter valued at about $118,087,000. Pacer Advisors Inc. grew its holdings in NVR by 5,411.1% during the first quarter. Pacer Advisors Inc. now owns 14,384 shares of the construction company's stock worth $104,203,000 after purchasing an additional 14,123 shares during the period. Finally, Capital Research Global Investors grew its holdings in NVR by 11.7% during the fourth quarter. Capital Research Global Investors now owns 107,606 shares of the construction company's stock worth $880,099,000 after purchasing an additional 11,274 shares during the period. Institutional investors own 83.67% of the company's stock.

Insiders Place Their Bets

In other news, Director Susan Williamson Ross sold 125 shares of the 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 completion of the sale, the director directly owned 386 shares of the company's stock, valued at $3,030,208.08. This represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.80% of the company's stock.

NVR Trading Up 4.2%

Shares of NYSE NVR traded up $334.02 during midday trading on Wednesday, hitting $8,296.32. 21,140 shares of the company traded hands, compared to its average volume of 23,148. 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 quick ratio of 2.97 and a current ratio of 5.79. The stock has a 50-day moving average price of $7,512.68 and a 200 day moving average price of $7,356.24. The firm has a market cap of $23.81 billion, a P/E ratio of 17.51, a P/E/G ratio of 11.08 and a beta of 0.94.

NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.46 billion. NVR had a net margin of 14.68% and a return on equity of 37.35%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 declared that its board has approved a stock buyback plan on Tuesday, May 6th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price target on NVR from $7,200.00 to $7,600.00 and gave the stock 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. Based on data from MarketBeat.com, NVR presently has an average rating of "Hold" and a consensus price target 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.