NVR (NYSE:NVR) Director Michael Devito Buys 11 Shares

Key Points

• Director purchase: NVR Director Michael Devito bought 11 shares on April 24 at an average price of $6,699.50 (totaling $73,694.50), raising his ownership to 25 shares — a 78.57% increase.
• Operational update: NVR missed Q results (EPS $67.76 vs. $79.97 expected; revenue $1.91B, down 21.7% YoY) but its Board authorized a $750 million buyback (about 3.3% of outstanding shares).

NVR, Inc. (NYSE:NVR - Get Free Report) Director Michael Devito purchased 11 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were bought at an average cost of $6,699.50 per share, for a total transaction of $73,694.50. Following the acquisition, the director owned 25 shares of the company's stock, valued at approximately $167,487.50. The trade was a 78.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NVR Stock Performance

NVR traded up $1.07 during trading on Monday, reaching $6,505.02. The company's stock had a trading volume of 2,064 shares, compared to its average volume of 27,145. The company has a market capitalization of $18.08 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 4.59 and a beta of 1.07. NVR, Inc. has a 52-week low of $6,301.02 and a 52-week high of $8,618.28. The company's fifty day moving average price is $6,870.94 and its 200-day moving average price is $7,280.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.71 and a current ratio of 6.21.

NVR (NYSE:NVR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $67.76 EPS 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 firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period last year, the firm earned $94.83 EPS. NVR's revenue was down 21.7% compared to the same quarter last year. On average, equities analysts forecast that NVR, Inc. will post 391.38 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

NVR has been the topic of several research reports. BTIG Research reissued a "buy" rating and issued a $8,096.00 price objective on shares of NVR in a research report on Wednesday. Bank of America dropped their target price on 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. UBS Group dropped their price target on shares of NVR from $8,100.00 to $7,700.00 and set a "neutral" rating for the company in a research note on Thursday. Truist Financial dropped their price target on shares of NVR from $7,100.00 to $6,600.00 and set a "hold" rating for the company in a research note on Thursday. Finally, Wall Street Zen lowered NVR from a "hold" rating to a "sell" rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7,649.33.

Hedge Funds Weigh In On NVR

Institutional investors and hedge funds have recently bought and sold shares of the stock. DV Equities LLC bought a new position in NVR in the 4th quarter valued at about $29,000. Strive Financial Group LLC bought a new position in shares of NVR during the 4th quarter valued at about $29,000. Oakworth Capital Inc. bought a new position in shares of NVR during the 4th quarter valued at about $36,000. State of Wyoming bought a new position in shares of NVR during the 2nd quarter valued at about $44,000. Finally, Zions Bancorporation National Association UT boosted its position in shares of NVR by 600.0% during the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company's stock valued at $56,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

NVR Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.