Korea Investment CORP Reduces Stake in NVR, Inc. $NVR

Korea Investment CORP lowered its position in NVR, Inc. (NYSE:NVR) by 27.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,918 shares of the construction company’s stock after selling 718 shares during the quarter. Korea Investment CORP’s holdings in NVR were worth $15,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in NVR by 50.0% in the second quarter. Assetmark Inc. now owns 6 shares of the construction company’s stock valued at $44,000 after acquiring an additional 2 shares during the period. State of Wyoming bought a new stake in shares of NVR during the 2nd quarter valued at about $44,000. Zions Bancorporation National Association UT increased 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 during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of NVR during the 2nd quarter valued at about $59,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of NVR in the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In related news, Director Susan Williamson Ross sold 220 shares of NVR stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total transaction of $1,760,000.00. Following the transaction, the director owned 386 shares in the company, valued at approximately $3,088,000. The trade was a 36.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew B. Kelpy sold 500 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was 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 $1,684,800. This represents a 70.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,120 shares of company stock valued at $9,012,736. Company insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of NVR in a report on Thursday, January 22nd. BTIG Research began coverage on shares of NVR in a research report on Monday, December 1st. They issued a “buy” rating and a $9,022.00 price target on the stock. Truist Financial initiated coverage on shares of NVR in a research note on Wednesday, March 4th. They set a “hold” rating and a $7,700.00 price target on the stock. Wall Street Zen raised shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zelman & Associates upgraded NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price objective for the company in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, NVR has an average rating of “Hold” and a consensus target price of $8,182.83.

NVR Stock Down 1.2%

NVR stock opened at $6,786.14 on Wednesday. The business’s 50-day moving average price is $7,531.58 and its 200-day moving average price is $7,631.61. The stock has a market cap of $18.93 billion, a P/E ratio of 15.52, a PEG ratio of 2.34 and a beta of 1.04. The company has a quick ratio of 3.71, a current ratio of 6.21 and a debt-to-equity ratio of 0.24. NVR, Inc. has a twelve month low of $6,562.85 and a twelve month high of $8,618.28.

NVR (NYSE:NVR) last released its earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a net margin of 13.27% and a return on equity of 34.28%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm posted $139.93 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts forecast that NVR, Inc. will post 505.2 EPS for the current year.

NVR announced that its board has approved a share buyback plan on Wednesday, February 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVR 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.