R Squared Ltd Increases Stake in NVR, Inc. (NYSE:NVR)

Key Points

• R Squared Ltd increased its holdings in NVR, Inc. by 100% during the first quarter, now owning 100 shares valued at approximately $724,000, making it the firm's 22nd largest position.
• Several hedge funds have modified their positions in NVR, with 83.67% of the stock currently owned by institutional investors, indicating increased interest in the company.
• NVR announced a share buyback plan worth $750 million to repurchase up to 3.6% of its shares, reflecting management's belief that the stock is undervalued.

R Squared Ltd increased its stake in NVR, Inc. (NYSE:NVR - Free Report) by 100.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100 shares of the construction company's stock after purchasing an additional 50 shares during the quarter. NVR accounts for 0.8% of R Squared Ltd's portfolio, making the stock its 22nd largest position. R Squared Ltd's holdings in NVR were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in NVR by 11.1% during the fourth quarter. Quadrant Capital Group LLC now owns 20 shares of the construction company's stock valued at $164,000 after acquiring an additional 2 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in NVR by 1.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 177 shares of the construction company's stock valued at $1,282,000 after purchasing an additional 2 shares during the period. Peak Financial Advisors LLC lifted its holdings in NVR by 1.3% in the 1st quarter. Peak Financial Advisors LLC now owns 153 shares of the construction company's stock worth $1,108,000 after purchasing an additional 2 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in NVR by 0.6% during the 1st quarter. Salvus Wealth Management LLC now owns 338 shares of the construction company's stock valued at $2,449,000 after buying an additional 2 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of NVR by 6.9% during the first quarter. Fifth Third Bancorp now owns 31 shares of the construction company's stock valued at $225,000 after buying an additional 2 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVR. Wall Street Zen cut NVR from a "hold" rating to a "sell" rating in a report on Monday, June 30th. JPMorgan Chase & Co. lifted their price objective on shares of NVR from $7,200.00 to $7,600.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, UBS Group upped their target price on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $8,783.33.

NVR Trading Up 1.3%

NYSE NVR traded up $98.60 on Monday, hitting $7,859.28. 14,271 shares of the stock were exchanged, compared to its average volume of 18,936. NVR, Inc. has a 52-week low of $6,562.85 and a 52-week high of $9,964.77. The firm has a market capitalization of $22.95 billion, a P/E ratio of 16.59, a P/E/G ratio of 11.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.97 and a current ratio of 5.79. The stock has a fifty day moving average price of $7,402.55 and a two-hundred day moving average price of $7,372.25.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, topping analysts' consensus estimates of $104.89 by $3.65. The firm had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. NVR had a net margin of 14.68% and a return on equity of 37.35%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $120.69 EPS. Research analysts forecast that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

NVR 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.