Virtu Financial LLC Invests $904,000 in NVR, Inc. (NYSE:NVR)

Key Points

• Virtu Financial LLC has made a significant new investment in NVR, Inc., purchasing 125 shares valued at approximately $904,000 during the first quarter.
• Several analysts have recently upgraded NVR's stock ratings, with UBS Group raising the price target to $8,150 and JPMorgan Chase & Co. to $7,600, reflecting a generally positive outlook.
• NVR reported earnings of $108.54 per share for the last quarter, exceeding expectations, while the company also authorized a share buyback of up to $750 million indicating management's belief in the stock's value.

Virtu Financial LLC acquired a new stake in NVR, Inc. (NYSE:NVR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 125 shares of the construction company's stock, valued at approximately $904,000.

A number of other institutional investors have also recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in shares of NVR in the first quarter valued at approximately $942,000. Benjamin Edwards Inc. grew its holdings in shares of NVR by 6.3% in the first quarter. Benjamin Edwards Inc. now owns 134 shares of the construction company's stock valued at $971,000 after purchasing an additional 8 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of NVR by 41.6% in the first quarter. JPMorgan Chase & Co. now owns 52,404 shares of the construction company's stock valued at $379,639,000 after purchasing an additional 15,405 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NVR by 17.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,185 shares of the construction company's stock valued at $8,585,000 after purchasing an additional 179 shares in the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of NVR by 81.1% in the first quarter. Townsquare Capital LLC now owns 67 shares of the construction company's stock valued at $485,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NVR shares. JPMorgan Chase & Co. lifted their price objective 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. Wall Street Zen upgraded shares of NVR from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, UBS Group lifted their price target on shares of NVR from $7,900.00 to $8,150.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, NVR has a consensus rating of "Hold" and an average target price of $8,783.33.

NVR Stock Up 0.3%

NVR stock traded up $28.23 during trading on Friday, reaching $8,226.78. The stock had a trading volume of 14,918 shares, compared to its average volume of 16,915. NVR, Inc. has a 52-week low of $6,562.85 and a 52-week high of $9,964.77. The business has a 50 day moving average price of $7,577.10 and a 200 day moving average price of $7,362.78. The company has a quick ratio of 2.97, a current ratio of 5.79 and a debt-to-equity ratio of 0.24. The stock has a market cap of $23.61 billion, a PE ratio of 17.36, a P/E/G ratio of 11.73 and a beta of 0.94.

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

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

Insider Activity at NVR

In other news, CAO Matthew B. Kelpy sold 600 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,684,800. The trade was a 74.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Williamson Ross sold 125 shares of the business's stock in a transaction that occurred 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 owned 386 shares of the company's stock, valued at $3,030,208.08. This represents a 24.46% decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

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.