Meiji Yasuda Asset Management Co Ltd. Reduces Position in NVR, Inc. $NVR

Meiji Yasuda Asset Management Co Ltd. lowered its position in NVR, Inc. (NYSE:NVR) by 66.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 44 shares of the construction company’s stock after selling 87 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in NVR were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of NVR by 4.0% in the third quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company’s stock valued at $484,546,000 after buying an additional 2,331 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of NVR by 262.2% during the third quarter. Nordea Investment Management AB now owns 938 shares of the construction company’s stock worth $7,522,000 after buying an additional 679 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of NVR during the third quarter worth about $691,000. Envestnet Asset Management Inc. grew its holdings in shares of NVR by 2.1% during the third quarter. Envestnet Asset Management Inc. now owns 9,730 shares of the construction company’s stock worth $78,178,000 after buying an additional 203 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in NVR in the 3rd quarter valued at about $51,896,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVR

In other NVR news, CAO Matthew B. Kelpy sold 500 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at approximately $1,684,800. The trade was a 70.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Williamson Ross sold 220 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $8,000.00, for a total transaction of $1,760,000.00. Following the transaction, the director directly owned 386 shares in the company, valued at approximately $3,088,000. This trade represents a 36.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,120 shares of company stock valued at $9,012,736 in the last quarter. 7.80% of the stock is currently owned by company insiders.

NVR Stock Performance

Shares of NVR stock opened at $6,786.14 on Wednesday. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.34 and a beta of 1.04. The stock has a 50 day simple moving average of $7,531.58 and a 200-day simple moving average of $7,631.61. NVR, Inc. has a 12-month low of $6,562.85 and a 12-month high of $8,618.28. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24.

NVR (NYSE:NVR) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, beating the consensus estimate of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The business 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 earned $139.93 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities analysts forecast that NVR, Inc. will post 505.2 EPS for the current year.

NVR announced that its board has initiated a share buyback plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NVR has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. UBS Group set a $8,100.00 target price on NVR in a research note on Friday, February 13th. Truist Financial started coverage on shares of NVR in a research note on Wednesday, March 4th. They issued a “hold” rating and a $7,700.00 price objective on the stock. BTIG Research assumed coverage on shares of NVR in a research report on Monday, December 1st. They set a “buy” rating and a $9,022.00 price objective for the company. Finally, Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8,182.83.

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.