Price T Rowe Associates Inc. MD Has $192.12 Million Stock Holdings in NVR, Inc. $NVR

Key Points

• Price T Rowe Associates Inc. reduced its holdings in NVR, Inc. by 14.8%, now owning about 0.91% of the company, valued at $192.12 million.
• Several institutional investors, including Brighton Jones LLC and TD Waterhouse Canada Inc., significantly increased their stakes in NVR during the last quarter, indicating growing interest in the stock.
• Shares of NVR, Inc. recently traded at $8,223.83, with a market cap of $23.60 billion, and the company plans to repurchase up to $750 million worth of its shares, suggesting management believes its stock is undervalued.

Price T Rowe Associates Inc. MD cut its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,520 shares of the construction company's stock after selling 4,613 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.91% of NVR worth $192,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC boosted its position in NVR by 68.9% during the 4th quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock worth $622,000 after acquiring an additional 31 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in NVR by 157.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 36 shares of the construction company's stock worth $295,000 after acquiring an additional 22 shares during the last quarter. Susquehanna International Group LLP boosted its position in NVR by 128.6% during the 4th quarter. Susquehanna International Group LLP now owns 1,833 shares of the construction company's stock worth $14,992,000 after acquiring an additional 1,031 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in NVR by 24.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 128 shares of the construction company's stock worth $1,047,000 after acquiring an additional 25 shares during the last quarter. Finally, Northern Trust Corp boosted its position in NVR by 20.1% during the 4th quarter. Northern Trust Corp now owns 34,894 shares of the construction company's stock worth $285,395,000 after acquiring an additional 5,835 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Matthew B. Kelpy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This represents a 74.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owned 386 shares in the company, valued at approximately $3,030,208.08. This trade represents a 24.46% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.

NVR Trading Up 3.4%

Shares of NVR stock opened at $8,223.8250 on Monday. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $9,964.77. The stock has a market cap of $23.60 billion, a P/E ratio of 17.36, a P/E/G ratio of 11.42 and a beta of 0.94. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $7,660.46 and its 200-day moving average is $7,363.94.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $108.54 earnings per share (EPS) for the quarter, topping 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 company 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 posted $120.69 EPS. The business's revenue was down .5% compared to the same quarter last year. Equities research analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR announced that its board has authorized a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upped their price target on NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, NVR presently has an average rating of "Hold" and an average 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.

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