Russell Investments Group Ltd. Sells 2,356 Shares of NVR, Inc. $NVR

Key Points

• Russell Investments Group Ltd. reduced its stake in NVR, Inc. by 29.8%, selling 2,356 shares to hold 5,557 shares valued at approximately $40.2 million.
• Analysts have increased NVR's target prices, with JPMorgan Chase & Co. raising its target from $7,200 to $7,600, while UBS Group increased it from $7,900 to $8,150, maintaining a "neutral" rating.
• In insider activity, director Susan Williamson Ross sold 125 shares for nearly $981,000, marking a 24.46% decrease in her position, while CAO Matthew B. Kelpy sold 600 shares valued at $4.86 million.

Russell Investments Group Ltd. lessened its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 29.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,557 shares of the construction company's stock after selling 2,356 shares during the period. Russell Investments Group Ltd. owned about 0.19% of NVR worth $40,249,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. lifted its holdings in NVR by 1.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,001 shares of the construction company's stock worth $7,242,000 after buying an additional 11 shares during the last quarter. Westpac Banking Corp boosted its holdings in NVR by 24.8% in the first quarter. Westpac Banking Corp now owns 523 shares of the construction company's stock valued at $3,789,000 after purchasing an additional 104 shares in the last quarter. HighTower Advisors LLC raised its holdings in NVR by 0.9% during the first quarter. HighTower Advisors LLC now owns 1,028 shares of the construction company's stock worth $7,447,000 after purchasing an additional 9 shares in the last quarter. Taylor Hoffman Capital Management LLC boosted its holdings in shares of NVR by 40.9% in the 1st quarter. Taylor Hoffman Capital Management LLC now owns 62 shares of the construction company's stock valued at $447,000 after buying an additional 18 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of NVR by 3.7% in the 1st quarter. Public Sector Pension Investment Board now owns 392 shares of the construction company's stock valued at $2,840,000 after buying an additional 14 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

NVR Stock Performance

Shares of NVR traded up $78.2810 on Tuesday, reaching $8,230.0210. 4,098 shares of the stock traded hands, compared to its average volume of 22,900. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 11.78 and a beta of 0.94. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The stock's 50-day moving average price is $7,597.69 and its 200-day moving average price is $7,354.09.

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. NVR had a return on equity of 37.35% and a net margin of 14.68%.The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company earned $120.69 EPS. NVR's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR declared that its board has authorized a share repurchase program on Tuesday, May 6th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the construction company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at NVR

In other news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction on Monday, August 4th. The shares were sold at an average price of $7,850.28, for a total transaction of $981,285.00. Following the transaction, the director directly owned 386 shares of the company's stock, valued at $3,030,208.08. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 600 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,860,000.00. Following the completion of the sale, the chief accounting officer owned 208 shares of the company's stock, valued at approximately $1,684,800. This represents a 74.26% decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVR shares. UBS Group increased their price objective 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 upgraded NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.