OLD National Bancorp IN Buys New Position in NVR, Inc. $NVR

Key Points

• OLD National Bancorp IN purchased 197 shares of NVR, Inc. valued at approximately $1,455,000, marking a new position in the company during the second quarter.
• Analysts have a consensus rating of "Hold" for NVR, with target prices increased by UBS Group and JPMorgan Chase to $8,150.00 and $7,600.00, respectively.
• NVR reported quarterly earnings of $108.54 EPS, beating estimates and showcasing a net margin of 14.68%, despite a slight year-over-year revenue decline.

OLD National Bancorp IN purchased a new position in shares of NVR, Inc. (NYSE:NVR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 197 shares of the construction company's stock, valued at approximately $1,455,000.

Several other hedge funds also recently made changes to their positions in NVR. Spire Wealth Management lifted its position in shares of NVR by 21.2% in the first quarter. Spire Wealth Management now owns 63 shares of the construction company's stock worth $456,000 after purchasing an additional 11 shares in the last quarter. Jump Financial LLC increased its stake in NVR by 201.6% in the 1st quarter. Jump Financial LLC now owns 193 shares of the construction company's stock valued at $1,398,000 after buying an additional 129 shares during the last quarter. Nomura Holdings Inc. lifted its position in NVR by 39.8% during the 1st quarter. Nomura Holdings Inc. now owns 137 shares of the construction company's stock worth $992,000 after buying an additional 39 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NVR by 12.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 331 shares of the construction company's stock worth $2,377,000 after buying an additional 36 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of NVR by 5.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 1,275 shares of the construction company's stock valued at $9,237,000 after acquiring an additional 63 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVR has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of NVR in a report on Saturday, September 27th. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. 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 report on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price 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. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8,783.33.

NVR Stock Performance

NVR opened at $8,078.00 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $9,964.77. The business has a 50 day moving average of $8,090.96 and a 200-day moving average of $7,554.82. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 11.37 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 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 for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the business earned $120.69 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that NVR, Inc. will post 505.2 earnings per share for the current year.

Insider Activity

In other news, Director Susan Williamson Ross sold 125 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $7,850.28, for a total transaction of $981,285.00. Following the completion of the sale, the director 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 SEC, which can be accessed through this link. 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 transaction of $4,860,000.00. Following the sale, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 74.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 975 shares of company stock valued at $7,869,360 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

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.

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