TD Asset Management Inc Reduces Holdings in NVR, Inc. $NVR

Key Points

• TD Asset Management reduced its NVR position by 7.9% in the fourth quarter, selling 1,459 shares and leaving it with 16,946 shares valued at about $123.6 million.
• NVR reported weaker-than-expected Q1 results, posting EPS of $67.76 versus the $79.97 estimate and revenue of $1.91 billion versus $2.09 billion expected; revenue fell 21.7% year over year.
• The company’s board authorized a $750 million share repurchase program, while analysts currently lean cautious with a consensus rating of Hold and an average price target of $7,649.33.

TD Asset Management Inc trimmed its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,946 shares of the construction company's stock after selling 1,459 shares during the quarter. TD Asset Management Inc owned 0.60% of NVR worth $123,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lido Advisors LLC boosted its stake in NVR by 4.9% during the fourth quarter. Lido Advisors LLC now owns 85 shares of the construction company's stock worth $677,000 after buying an additional 4 shares during the period. Elgethun Capital Management lifted its position in shares of NVR by 5.6% during the fourth quarter. Elgethun Capital Management now owns 640 shares of the construction company's stock worth $4,667,000 after purchasing an additional 34 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of NVR by 60.1% during the fourth quarter. CIBC Asset Management Inc now owns 679 shares of the construction company's stock worth $4,952,000 after purchasing an additional 255 shares during the last quarter. Marble Wealth LLC bought a new stake in shares of NVR during the fourth quarter worth $528,000. Finally, Rothschild Wealth LLC bought a new stake in shares of NVR during the fourth quarter worth $335,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

NVR Stock Performance

NVR stock opened at $6,184.31 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.19 and a quick ratio of 2.67. The business has a 50-day moving average price of $6,339.04 and a 200 day moving average price of $7,015.01. The company has a market capitalization of $16.69 billion, a P/E ratio of 15.08, a PEG ratio of 4.51 and a beta of 0.93. NVR, Inc. has a 1-year low of $5,501.01 and a 1-year high of $8,618.28.

NVR (NYSE:NVR - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 earnings per share for the quarter, missing the consensus estimate of $79.97 by ($12.21). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $2.09 billion. NVR had a net margin of 12.93% and a return on equity of 32.66%. The business's revenue was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $94.83 earnings per share. As a group, equities research analysts forecast that NVR, Inc. will post 375.15 EPS for the current fiscal year.

NVR announced that its board has authorized a stock repurchase plan on Wednesday, February 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NVR has been the subject of several research analyst reports. Seaport Research Partners reiterated a "sell" rating and set a $5,664.00 target price on shares of NVR in a research report on Tuesday, April 7th. Wall Street Zen upgraded NVR from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Truist Financial decreased their target price on NVR from $7,100.00 to $6,600.00 and set a "hold" rating for the company in a research report on Thursday, April 23rd. BTIG Research reiterated a "buy" rating and set a $8,096.00 target price on shares of NVR in a research report on Wednesday, April 22nd. Finally, UBS Group decreased their target price on NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7,649.33.

Insider Buying and Selling at NVR

In other news, Director Michael J. Devito acquired 11 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the completion of the acquisition, the director directly owned 25 shares of the company's stock, valued at $167,487.50. The trade was a 78.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

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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