PNC Financial Services Group Inc. Sells 84 Shares of NVR, Inc. $NVR

PNC Financial Services Group Inc. decreased its position in NVR, Inc. (NYSE:NVR) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 861 shares of the construction company’s stock after selling 84 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NVR were worth $6,918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in NVR by 50.0% during the second quarter. Assetmark Inc. now owns 6 shares of the construction company’s stock worth $44,000 after purchasing an additional 2 shares during the last quarter. State of Wyoming bought a new stake in NVR during the 2nd quarter worth about $44,000. CYBER HORNET ETFs LLC bought a new stake in NVR during the 2nd quarter worth about $59,000. Financial Gravity Companies Inc. acquired a new position in shares of NVR during the 2nd quarter worth about $66,000. Finally, MUFG Securities EMEA plc bought a new position in shares of NVR in the 2nd quarter valued at about $66,000. 83.67% of the stock is owned by institutional investors and hedge funds.

NVR Price Performance

Shares of NYSE NVR opened at $7,519.50 on Friday. The business’s 50 day moving average price is $7,575.74 and its two-hundred day moving average price is $7,705.91. The company has a market cap of $20.98 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03. 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 quarterly earnings data on Wednesday, January 28th. The construction company reported $121.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm posted $139.93 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. On average, analysts predict that NVR, Inc. will post 505.2 EPS for the current year.

NVR announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that authorizes the company to buyback $750.00 million in 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 usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVR shares. BTIG Research began coverage on NVR in a research report on Monday, December 1st. They issued a “buy” rating and a $9,022.00 target price on the stock. UBS Group set a $8,100.00 price target on NVR in a research note on Friday, February 13th. Wall Street Zen raised NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zelman & Associates raised NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price objective for the company in a report on Thursday, January 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8,279.40.

Insider Buying and Selling at NVR

In other news, CAO Matthew B. Kelpy sold 500 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total value of $4,050,000.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Williamson Ross sold 200 shares of the firm’s stock in a transaction dated 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 sale, the director owned 386 shares of the company’s stock, valued at approximately $3,057,915.16. This represents a 34.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,120 shares of company stock valued at $9,012,736 in the last ninety days. Insiders own 7.00% of the company’s stock.

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.