Russell Investments Group Ltd. Has $52.70 Million Stock Holdings in NVR, Inc. $NVR

Key Points

• Russell Investments Group Ltd. increased its stake in NVR by 9.5% in Q3 to 6,555 shares, valued at about $52.70 million.
• NVR topped quarterly estimates with EPS of $121.54 (vs. $105.42 expected) and revenue of $2.74 billion, although revenue fell 5.2% year-over-year.
• The board authorized a $750 million share repurchase program, enabling buybacks of roughly 3.3% of outstanding shares.

Russell Investments Group Ltd. lifted its stake in shares of NVR, Inc. (NYSE:NVR - Free Report) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,555 shares of the construction company's stock after acquiring an additional 570 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of NVR worth $52,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its position in NVR by 50.0% during the 2nd quarter. Assetmark Inc. now owns 6 shares of the construction company's stock valued at $44,000 after purchasing an additional 2 shares during the period. State of Wyoming acquired a new position in shares of NVR in the 2nd quarter worth approximately $44,000. Zions Bancorporation National Association UT lifted its position in shares of NVR by 600.0% in the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company's stock worth $56,000 after purchasing an additional 6 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of NVR in the 2nd quarter valued at $59,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of NVR in the 2nd quarter valued at $66,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVR

In other NVR news, Director Susan Williamson Ross sold 220 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the completion of the sale, the director owned 386 shares of the company's stock, valued at approximately $3,088,000. This trade represents a 36.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew B. Kelpy sold 500 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total value of $4,050,000.00. Following the sale, the chief accounting officer owned 208 shares of the company's stock, valued at approximately $1,684,800. This represents a 70.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,120 shares of company stock worth $9,012,736. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVR shares. UBS Group set a $8,100.00 target price on shares of NVR in a research note on Friday, February 13th. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Truist Financial assumed coverage on NVR in a research note on Wednesday, March 4th. They issued a "hold" rating and a $7,700.00 price objective on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of NVR in a research report on Thursday, January 22nd. Finally, BTIG Research assumed coverage on NVR in a research note on Monday, December 1st. They set a "buy" rating and a $9,022.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8,182.83.

NVR Price Performance

Shares of NYSE NVR opened at $6,786.14 on Wednesday. The firm has a market capitalization of $18.93 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.34 and a beta of 1.04. The firm's 50-day moving average price is $7,531.58 and its 200-day moving average price is $7,631.61. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last issued its earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, beating the consensus estimate of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $139.93 EPS. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its board has authorized a share repurchase plan on Wednesday, February 11th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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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