Pictet Asset Management Holding SA Has $26.64 Million Stake in NVR, Inc. $NVR

Key Points

• Pictet Asset Management trimmed its stake in NVR by 8.6%, selling 344 shares to hold 3,652 shares valued at about $26.64 million as of its latest 13F filing.
• NVR significantly missed quarterly expectations, reporting $67.76 EPS versus $79.97 expected and $1.91 billion in revenue (vs. $2.09 billion est.), with revenue down 21.7% year‑over‑year.
• The board authorized a $750.00 million share buyback (about 3.3% of outstanding shares), a move management says signals belief the stock is undervalued.

Pictet Asset Management Holding SA lowered its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,652 shares of the construction company's stock after selling 344 shares during the period. Pictet Asset Management Holding SA owned about 0.13% of NVR worth $26,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. waypoint wealth counsel acquired a new position in shares of NVR during the 4th quarter worth about $204,000. B. Metzler seel. Sohn & Co. AG increased its position in shares of NVR by 9.7% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 193 shares of the construction company's stock valued at $1,408,000 after acquiring an additional 17 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of NVR by 10.8% in the fourth quarter. Teacher Retirement System of Texas now owns 5,461 shares of the construction company's stock valued at $39,826,000 after acquiring an additional 533 shares during the last quarter. M&T Bank Corp raised its holdings in NVR by 34,923.5% during the fourth quarter. M&T Bank Corp now owns 56,738 shares of the construction company's stock worth $413,777,000 after acquiring an additional 56,576 shares in the last quarter. Finally, Davidson Kahn Capital Management LLC raised its holdings in NVR by 1.9% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 324 shares of the construction company's stock worth $2,363,000 after acquiring an additional 6 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

NVR Price Performance

Shares of NYSE NVR opened at $6,315.98 on Friday. The company has a quick ratio of 3.71, a current ratio of 6.21 and a debt-to-equity ratio of 0.24. The business's 50 day moving average price is $6,780.56 and its two-hundred day moving average price is $7,251.55. The company has a market cap of $17.56 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 4.35 and a beta of 1.07. NVR, Inc. has a twelve month low of $6,195.15 and a twelve month high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $79.97 by ($12.21). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $2.09 billion. NVR had a net margin of 12.93% and a return on equity of 31.82%. The business's quarterly revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the business earned $94.83 earnings per share. On average, analysts predict that NVR, Inc. will post 393.81 EPS for the current year.

NVR declared that its board has authorized a stock buyback plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

NVR has been the subject of a number of analyst reports. Wall Street Zen downgraded NVR from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. UBS Group dropped their price objective on NVR from $8,100.00 to $7,700.00 and set a "neutral" rating on the stock in a research note on Thursday, April 23rd. BTIG Research reissued a "buy" rating and issued a $8,096.00 target price on shares of NVR in a research note on Wednesday, April 22nd. Truist Financial lowered their target price on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a report on Thursday, April 23rd. Finally, Zelman & Associates raised shares of NVR from a "sell" rating to a "hold" rating and set a $7,675.00 price target on the stock in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NVR presently has an average rating of "Hold" and a consensus target price of $7,649.33.

Insider Buying and Selling at NVR

In other NVR news, CAO Matthew B. Kelpy sold 500 shares of NVR stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief accounting officer directly owned 208 shares of the company's stock, valued at $1,684,800. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Devito acquired 11 shares of the firm's stock in a transaction on Friday, April 24th. The stock was bought at an average price of $6,699.50 per share, for a total transaction of $73,694.50. Following the completion of the acquisition, the director owned 25 shares of the company's stock, valued at approximately $167,487.50. The trade was a 78.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 1,120 shares of company stock valued at $9,012,736 in the last quarter. 8.60% of the stock is currently owned by insiders.

NVR Company Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR's homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.

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