State Street Corp Has $877.35 Million Stake in NVR, Inc. $NVR

Key Points

• State Street increased its NVR position by 0.9% to 128,768 shares valued at approximately $877.35 million, representing a 4.84% stake. Institutional investors and hedge funds collectively own 83.67% of NVR.
• Analyst sentiment remains mixed: three analysts rate NVR a Buy, three Hold, and one Sell. The consensus rating is Hold, with an average price target of $7,160.
• NVR shares opened at $6,261.56, down 1.2%, and remain below their 52-week high of $8,200. The company’s latest quarterly revenue fell 10.5% year over year to $2.34 billion, while return on equity was 31.02%.

State Street Corp grew its position in NVR, Inc. (NYSE:NVR - Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,768 shares of the construction company's stock after purchasing an additional 1,172 shares during the period. State Street Corp owned approximately 4.84% of NVR worth $877,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Clearstead Trust LLC bought a new position in shares of NVR during the 2nd quarter worth approximately $27,000. Trust Co. of Vermont bought a new stake in shares of NVR in the second quarter worth $34,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of NVR in the second quarter worth $34,000. Global Retirement Partners LLC acquired a new position in NVR during the second quarter worth $41,000. Finally, Bullseye Investment Management LLC acquired a new position in NVR during the second quarter worth $41,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVR has been the topic of several recent research reports. Weiss Ratings upgraded shares of NVR from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 14th. Zelman & Associates upgraded shares of NVR from a "hold" rating to a "buy" rating in a research note on Tuesday, July 7th. UBS Group decreased their price objective on NVR from $7,700.00 to $7,400.00 and set a "neutral" rating for the company in a report on Friday, July 24th. Truist Financial lowered their target price on NVR from $6,600.00 to $6,400.00 and set a "hold" rating on the stock in a research report on Friday, July 24th. Finally, Zacks Research lowered NVR from a "hold" rating to a "strong sell" rating in a report on Monday. Three investment 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, NVR has a consensus rating of "Hold" and a consensus price target of $7,160.00.

NVR Trading Down 1.2%

NVR stock opened at $6,261.56 on Thursday. The stock has a 50-day simple moving average of $6,318.97 and a 200 day simple moving average of $6,390.46. The stock has a market capitalization of $16.66 billion, a P/E ratio of 16.24, a PEG ratio of 10.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.24 and a current ratio of 5.28. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,200.00.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $83.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $83.06. The company had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.40 billion. NVR had a return on equity of 31.02% and a net margin of 12.26%.The business's revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $108.54 earnings per share. Analysts expect that NVR, Inc. will post 367.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director George Oliver acquired 63 shares of NVR stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $6,431.51 per share, with a total value of $405,185.13. Following the completion of the transaction, the director directly owned 63 shares in the company, valued at $405,185.13. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

About NVR

NVR, Inc is a homebuilding and mortgage banking company headquartered in Reston, Virginia. Through its homebuilding operations, the company designs, constructs and sells single-family homes, townhomes and condominiums under the Ryan Homes, NVHomes and Heartland Homes brands.

NVR primarily serves homebuyers in the Mid-Atlantic, Midwest and Southeast regions of the United States. Its communities are developed in a range of suburban and urban markets, with homes generally marketed to first-time, move-up and luxury buyers.

Through its mortgage banking operations, NVR provides mortgage loans and related services to many of the customers who purchase its homes.

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