NVR (NYSE:NVR) Sets New 12-Month High at $3,486.11

NVR, Inc. (NYSE:NVR)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $3,486.11 and last traded at $3,486.11, with a volume of 157 shares. The stock had previously closed at $3,395.81.

Several brokerages have recently issued reports on NVR. Evercore ISI began coverage on NVR in a report on Thursday, June 6th. They set an “in-line” rating and a $3,467.00 target price on the stock. Wells Fargo & Co set a $3,500.00 target price on NVR and gave the stock a “market perform” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised NVR from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Finally, Buckingham Research boosted their target price on NVR from $3,030.00 to $3,410.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $3,282.00.

The firm has a market capitalization of $12.20 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.60 and a beta of 0.67. The company has a quick ratio of 2.03, a current ratio of 4.04 and a debt-to-equity ratio of 0.31.

NVR (NYSE:NVR) last announced its earnings results on Monday, April 22nd. The construction company reported $47.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $34.45 by $13.19. NVR had a return on equity of 46.85% and a net margin of 11.45%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company earned $39.34 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVR, Inc. will post 198.36 earnings per share for the current fiscal year.

NVR announced that its Board of Directors has approved a stock buyback program on Thursday, May 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In other NVR news, insider Jeffrey D. Martchek sold 500 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $3,180.04, for a total value of $1,590,020.00. Following the transaction, the insider now owns 4,658 shares of the company’s stock, valued at $14,812,626.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Manuel H. Johnson sold 300 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $3,183.56, for a total value of $955,068.00. Following the completion of the transaction, the director now directly owns 2,003 shares in the company, valued at approximately $6,376,670.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,320 shares of company stock worth $83,126,269. 11.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NVR. Howe & Rusling Inc. bought a new position in shares of NVR in the first quarter valued at $47,000. Lindbrook Capital LLC bought a new position in shares of NVR in the fourth quarter valued at $53,000. Rockefeller Capital Management L.P. increased its holdings in shares of NVR by 375.0% in the first quarter. Rockefeller Capital Management L.P. now owns 19 shares of the construction company’s stock valued at $53,000 after buying an additional 15 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of NVR in the first quarter valued at $66,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of NVR in the first quarter valued at $69,000. 79.12% of the stock is currently owned by institutional investors.

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NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells 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.

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