Zurcher Kantonalbank Zurich Cantonalbank Sells 156 Shares of NVR, Inc. $NVR

Key Points

• NVR missed expectations in its latest quarter, reporting $67.76 EPS versus a $79.97 consensus and $1.91 billion revenue (down 21.7% year‑over‑year), with the stock down about 2.2% on the report.
• Analysts have trimmed price targets and ratings, leaving a MarketBeat consensus of "Hold" and an average target around $7,649; Bank of America and Truist notably reduced their targets.
• The board authorized a $750 million share buyback (about 3.3% of shares), even as insiders have been net sellers recently and institutional ownership remains high (~83.7%).

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in NVR, Inc. (NYSE:NVR - Free Report) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 544 shares of the construction company's stock after selling 156 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NVR were worth $3,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVR. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of NVR during the 4th quarter worth approximately $11,610,000. Principal Financial Group Inc. grew its position in shares of NVR by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company's stock worth $484,546,000 after purchasing an additional 2,331 shares in the last quarter. Nordea Investment Management AB grew its position in shares of NVR by 262.2% during the 3rd quarter. Nordea Investment Management AB now owns 938 shares of the construction company's stock worth $7,522,000 after purchasing an additional 679 shares in the last quarter. American Century Companies Inc. grew its position in shares of NVR by 17.0% during the 3rd quarter. American Century Companies Inc. now owns 6,370 shares of the construction company's stock worth $51,181,000 after purchasing an additional 925 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in shares of NVR during the 3rd quarter worth approximately $691,000. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on NVR shares. Bank of America decreased their target price on shares of NVR from $8,600.00 to $8,225.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Truist Financial decreased their target price on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating on the stock in a research report on Thursday. Zelman & Associates upgraded shares of NVR from a "sell" rating to a "hold" rating and set a $7,675.00 target price for the company in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of NVR from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of NVR in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $7,649.33.

NVR Stock Down 2.2%

NYSE NVR opened at $6,522.15 on Friday. The business has a fifty day moving average price of $6,870.94 and a two-hundred day moving average price of $7,284.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.21 and a quick ratio of 3.71. NVR, Inc. has a fifty-two week low of $6,301.02 and a fifty-two week high of $8,618.28. The stock has a market capitalization of $18.12 billion, a PE ratio of 15.90, a PEG ratio of 3.01 and a beta of 1.07.

NVR (NYSE:NVR - Get Free Report) last released its earnings results 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). NVR had a return on equity of 31.82% and a net margin of 12.93%.The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company earned $94.83 earnings per share. The firm's revenue for the quarter was down 21.7% on a year-over-year basis. Equities analysts expect that NVR, Inc. will post 402.87 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at NVR

In other NVR news, Director Susan Williamson Ross sold 200 shares of the company's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $7,922.06, for a total transaction of $1,584,412.00. Following the completion of the sale, the director directly owned 386 shares in the company, valued at $3,057,915.16. This represents a 34.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief accounting officer directly owned 208 shares of the company's stock, valued at approximately $1,684,800. The trade was a 70.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,120 shares of company stock valued at $9,012,736 over the last 90 days. Corporate insiders own 8.60% of the company's stock.

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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