The Manufacturers Life Insurance Company Buys 1,910 Shares of NVR, Inc. $NVR

Key Points

• The Manufacturers Life Insurance Company increased its stake in NVR, Inc. by 11.5% during the first quarter, now holding approximately 0.63% of the company valued at $133.7 million.
• Recent insider transactions revealed significant sales, with Director Alexandra A. Jung selling 200 shares and Director Susan Williamson Ross selling 125 shares, indicating a decrease in their ownership positions.
• NVR has initiated a $750 million stock buyback program, which is a sign that the company believes its stock is undervalued.

The Manufacturers Life Insurance Company boosted its position in shares of NVR, Inc. (NYSE:NVR - Free Report) by 11.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,460 shares of the construction company's stock after purchasing an additional 1,910 shares during the quarter. The Manufacturers Life Insurance Company owned 0.63% of NVR worth $133,731,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new position in NVR during the fourth quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new position in NVR during the first quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in NVR during the first quarter valued at approximately $36,000. Ridgewood Investments LLC grew its holdings in NVR by 150.0% during the first quarter. Ridgewood Investments LLC now owns 5 shares of the construction company's stock valued at $36,000 after purchasing an additional 3 shares during the period. Finally, SouthState Corp acquired a new position in NVR during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of NVR from $7,900.00 to $8,150.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, NVR currently has an average rating of "Hold" and an average price target of $8,783.33.

NVR Stock Up 0.7%

NVR traded up $53.57 during trading hours on Tuesday, hitting $8,171.22. 18,450 shares of the company's stock were exchanged, compared to its average volume of 22,669. NVR, Inc. has a 1-year low of $6,562.85 and a 1-year high of $9,964.77. The stock's 50-day moving average is $7,779.25 and its two-hundred day moving average is $7,392.12. The stock has a market cap of $23.45 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 11.29 and a beta of 0.95. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $108.54 EPS for the quarter, topping the consensus estimate of $104.89 by $3.65. NVR had a net margin of 14.68% and a return on equity of 37.35%. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the company posted $120.69 earnings per share. The firm's revenue was down .5% on a year-over-year basis. Sell-side analysts predict that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Matthew B. Kelpy sold 600 shares of the 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 transaction, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This represents a 74.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Williamson Ross sold 125 shares of the 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 transaction, the director owned 386 shares of the company's stock, valued at $3,030,208.08. The trade was a 24.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 975 shares of company stock worth $7,869,360. 7.80% of the stock is owned by insiders.

NVR 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.