Panagora Asset Management Inc. Trims Stock Position in NVR, Inc. $NVR

Key Points

• Panagora Asset Management Inc. reduced its stake in NVR, Inc. by 87.1%, selling 4,992 shares and retaining only 739 shares valued at approximately $5.36 million.
• Institutional investors own 83.67% of NVR, with notable increases in stakes from GAMMA Investing LLC and Siemens Fonds Invest GmbH during the first quarter.
• NVR's recent earnings report showed a profit of $108.54 per share, exceeding expectations, and the company initiated a $750 million stock repurchase plan.

Panagora Asset Management Inc. lowered its stake in NVR, Inc. (NYSE:NVR - Free Report) by 87.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 739 shares of the construction company's stock after selling 4,992 shares during the quarter. Panagora Asset Management Inc.'s holdings in NVR were worth $5,354,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Boston Partners lifted its stake in NVR by 14.0% in the 1st quarter. Boston Partners now owns 59,077 shares of the construction company's stock worth $427,962,000 after purchasing an additional 7,233 shares in the last quarter. Siemens Fonds Invest GmbH lifted its stake in NVR by 116,808.2% in the 4th quarter. Siemens Fonds Invest GmbH now owns 57,285 shares of the construction company's stock worth $468,528,000 after purchasing an additional 57,236 shares in the last quarter. Principal Financial Group Inc. lifted its stake in NVR by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 56,352 shares of the construction company's stock worth $408,236,000 after purchasing an additional 2,814 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in NVR by 41.6% in the 1st quarter. JPMorgan Chase & Co. now owns 52,404 shares of the construction company's stock worth $379,639,000 after purchasing an additional 15,405 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NVR. UBS Group boosted their price target 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 upgraded shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. 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 three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8,783.33.

Insider Activity at NVR

In related news, CAO Matthew B. Kelpy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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 directly owned 208 shares in the company, valued at approximately $1,684,800. This represents a 74.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan Williamson Ross sold 125 shares of the company'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 transaction, the director owned 386 shares in the company, valued at $3,030,208.08. The trade was a 24.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 975 shares of company stock worth $7,869,360. Insiders own 7.00% of the company's stock.

NVR Price Performance

Shares of NVR stock traded up $89.27 during trading hours on Friday, reaching $8,497.04. The company's stock had a trading volume of 13,288 shares, compared to its average volume of 15,839. The firm has a 50 day moving average price of $7,861.59 and a 200-day moving average price of $7,418.92. NVR, Inc. has a one year low of $6,562.85 and a one year 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 stock has a market cap of $24.39 billion, a P/E ratio of 17.93, a P/E/G ratio of 11.69 and a beta of 0.95.

NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $108.54 earnings per share for the quarter, topping analysts' consensus estimates of $104.89 by $3.65. The firm 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 business's quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $120.69 EPS. On average, analysts predict that NVR, Inc. will post 505.2 EPS for the current year.

NVR Company 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.