Principal Financial Group Inc. Decreases Stock Position in NVR, Inc. $NVR

Key Points

• Principal Financial Group trimmed its NVR stake by 1.3% in the first quarter, selling 791 shares and still holding 58,245 shares valued at about $383.8 million.
• NVR reported weaker-than-expected quarterly results, with EPS of $67.76 versus estimates of $79.97 and revenue of $1.91 billion, down 21.7% year over year.
• Analyst sentiment is mixed but cautious: the stock currently carries a consensus “Hold” rating, with recent target-price cuts from several firms and a current consensus target of $7,649.33.

Principal Financial Group Inc. cut its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,245 shares of the construction company's stock after selling 791 shares during the quarter. Principal Financial Group Inc. owned 2.10% of NVR worth $383,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NVR. Brighton Jones LLC boosted its stake in shares of NVR by 68.9% during the fourth quarter. Brighton Jones LLC now owns 76 shares of the construction company's stock valued at $622,000 after purchasing an additional 31 shares during the period. Woodline Partners LP grew its position in shares of NVR by 28.4% in the 1st quarter. Woodline Partners LP now owns 253 shares of the construction company's stock worth $1,833,000 after buying an additional 56 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of NVR by 100.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10 shares of the construction company's stock worth $75,000 after buying an additional 5 shares during the last quarter. Cerity Partners LLC grew its position in shares of NVR by 7.9% in the 2nd quarter. Cerity Partners LLC now owns 409 shares of the construction company's stock worth $3,021,000 after buying an additional 30 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of NVR by 3.7% during the second quarter. Daiwa Securities Group Inc. now owns 449 shares of the construction company's stock valued at $3,316,000 after buying an additional 16 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at NVR

In related news, Director Michael J. Devito purchased 11 shares of NVR stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the acquisition, the director owned 25 shares in the company, valued at approximately $167,487.50. The trade was a 78.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.60% of the company's stock.

NVR Stock Down 0.7%

NVR stock opened at $6,433.45 on Tuesday. NVR, Inc. has a one year low of $5,501.01 and a one year high of $8,618.28. The stock has a fifty day moving average of $6,269.19 and a 200 day moving average of $6,841.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.67 and a current ratio of 5.19. The stock has a market cap of $17.37 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 4.80 and a beta of 0.90.

NVR (NYSE:NVR - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $79.97 by ($12.21). NVR had a return on equity of 32.66% and a net margin of 12.93%.The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the business posted $94.83 earnings per share. The company's revenue for the quarter was down 21.7% on a year-over-year basis. As a group, sell-side analysts predict that NVR, Inc. will post 372.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVR. Seaport Research Partners reiterated a "sell" rating and issued a $5,664.00 price target on shares of NVR in a report on Tuesday, April 7th. BTIG Research reissued a "buy" rating and issued a $8,096.00 price target on shares of NVR in a research note on Wednesday, April 22nd. Weiss Ratings lowered shares of NVR from a "hold (c)" rating to a "sell (d+)" rating in a report on Thursday, May 7th. Bank of America reduced their target price on NVR from $8,600.00 to $8,225.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Finally, Truist Financial reduced their price target on NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $7,649.33.

About NVR

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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