Summit Global Investments reduced its position in shares of NVR, Inc. (NYSE:NVR – Get Rating) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,790 shares of the construction company’s stock after selling 370 shares during the period. NVR makes up about 1.1% of Summit Global Investments’ investment portfolio, making the stock its 25th largest position. Summit Global Investments owned approximately 0.08% of NVR worth $16,486,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in NVR by 576.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 176 shares of the construction company’s stock worth $1,040,000 after acquiring an additional 150 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in NVR in the 3rd quarter worth about $2,397,000. Polaris Wealth Advisory Group LLC purchased a new position in NVR in the 4th quarter worth about $236,000. Franklin Resources Inc. increased its stake in NVR by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 11,819 shares of the construction company’s stock worth $56,649,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Raymond James & Associates increased its stake in NVR by 10.5% in the 4th quarter. Raymond James & Associates now owns 3,081 shares of the construction company’s stock worth $18,205,000 after purchasing an additional 292 shares in the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on NVR shares. Zacks Investment Research raised NVR from a “hold” rating to a “strong-buy” rating and set a $5,167.00 price target on the stock in a research note on Friday, April 29th. KeyCorp dropped their price target on NVR from $5,700.00 to $5,100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 15th. UBS Group raised NVR from a “sell” rating to a “neutral” rating and lifted their target price for the company from $4,825.00 to $5,500.00 in a research note on Thursday, February 3rd. StockNews.com raised NVR from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on NVR from $5,300.00 to $4,770.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 13th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $5,134.25.
NVR (NYSE:NVR – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The construction company reported $116.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $100.47 by $16.09. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.32 billion. NVR had a return on equity of 47.99% and a net margin of 15.63%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $63.21 EPS. On average, equities research analysts expect that NVR, Inc. will post 539.63 EPS for the current fiscal year.
NVR announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
NVR Profile (Get Rating)
NVR, Inc operates as a homebuilder in the United States. The company operates in two segments, Homebuilding and Mortgage Banking. 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.
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