State of New Jersey Common Pension Fund D Decreases Stock Position in NVR, Inc. $NVR

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in NVR, Inc. by 11.9% in Q1, owning $6.9 million worth of the stock after selling 128 shares.
• NVR, Inc. reported earnings per share of $108.54 for the last quarter, exceeding analysts’ expectations of $104.89, though its revenue was down 0.5% year-over-year.
• Multiple brokerages have raised their price targets on NVR, with a consensus rating of "Hold" and a target price of $8,783.33.

State of New Jersey Common Pension Fund D decreased its holdings in NVR, Inc. (NYSE:NVR - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 952 shares of the construction company's stock after selling 128 shares during the period. State of New Jersey Common Pension Fund D's holdings in NVR were worth $6,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JDM Financial Group LLC bought a new position in shares of NVR in the 4th quarter valued at $25,000. Olde Wealth Management LLC acquired a new stake in shares of NVR during the 1st quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NVR during the 1st quarter valued at $36,000. Ridgewood Investments LLC boosted its holdings in shares of NVR by 150.0% during the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after acquiring an additional 3 shares in the last quarter. Finally, SouthState Corp acquired a new stake in shares of NVR during the 1st quarter valued at $36,000. Institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

NVR has been the topic of several recent research reports. Wall Street Zen raised NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on NVR from $7,200.00 to $7,600.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group raised their price objective on NVR from $7,900.00 to $8,150.00 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8,783.33.

Insider Buying and Selling

In related news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction on Monday, August 4th. The stock was sold at an average price of $7,850.28, for a total transaction of $981,285.00. Following the sale, the director directly owned 386 shares in the company, valued at approximately $3,030,208.08. This trade represents a 24.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew B. Kelpy sold 600 shares of NVR 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 $1,684,800. This trade represents a 74.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

NVR Stock Up 3.4%

NVR stock traded up $269.9250 during midday trading on Friday, reaching $8,223.8250. The stock had a trading volume of 17,357 shares, compared to its average volume of 15,754. NVR, Inc. has a 12 month low of $6,562.85 and a 12 month high of $9,964.77. The company has a market capitalization of $23.60 billion, a P/E ratio of 17.36, a PEG ratio of 11.06 and a beta of 0.94. The company has a fifty day moving average price of $7,660.46 and a two-hundred day moving average price of $7,369.45. The company has a current ratio of 5.79, a quick ratio of 2.97 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $120.69 EPS. The firm's revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that NVR, Inc. will post 505.2 EPS for the current fiscal year.

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

NVR Company 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.