Marshfield Associates Acquires 1,130 Shares of NVR, Inc. $NVR

Marshfield Associates increased its holdings in NVR, Inc. (NYSE:NVR) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,042 shares of the construction company’s stock after purchasing an additional 1,130 shares during the quarter. NVR accounts for 3.5% of Marshfield Associates’ investment portfolio, making the stock its 13th biggest position. Marshfield Associates owned 0.88% of NVR worth $201,204,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NVR. Capital Research Global Investors increased its holdings in shares of NVR by 8.0% in the third quarter. Capital Research Global Investors now owns 133,003 shares of the construction company’s stock worth $1,068,634,000 after buying an additional 9,877 shares during the period. Boston Partners boosted its holdings in NVR by 9.9% during the 2nd quarter. Boston Partners now owns 64,952 shares of the construction company’s stock valued at $479,900,000 after acquiring an additional 5,875 shares during the period. Principal Financial Group Inc. grew its position in NVR by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 60,307 shares of the construction company’s stock worth $484,546,000 after acquiring an additional 2,331 shares during the last quarter. JPMorgan Chase & Co. grew its position in NVR by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,318 shares of the construction company’s stock worth $348,051,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Capital World Investors increased its stake in NVR by 0.3% in the 3rd quarter. Capital World Investors now owns 40,576 shares of the construction company’s stock worth $326,014,000 after purchasing an additional 109 shares during the period. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVR has been the subject of several recent research reports. Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. 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 target for the company. Zelman & Associates raised shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a report on Thursday, January 29th. Truist Financial started coverage on shares of NVR in a research report on Wednesday, March 4th. They issued a “hold” rating and a $7,700.00 price objective on the stock. Finally, UBS Group set a $8,100.00 target price on shares of NVR in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, NVR has an average rating of “Hold” and an average price target of $8,182.83.

Insider Activity

In other NVR news, CAO Matthew B. Kelpy sold 500 shares of the firm’s 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 completion of the sale, the chief accounting officer directly owned 208 shares in the company, valued at $1,684,800. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan Williamson Ross sold 200 shares of NVR stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total value of $1,584,412.00. Following the sale, the director directly owned 386 shares in the company, valued at approximately $3,057,915.16. The trade was a 34.13% 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 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

NVR Stock Up 1.6%

Shares of NVR stock opened at $6,567.33 on Tuesday. 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, Inc. has a 12-month low of $6,368.70 and a 12-month high of $8,618.28. The company has a market cap of $18.32 billion, a P/E ratio of 15.02, a PEG ratio of 2.20 and a beta of 1.04. The company’s fifty day simple moving average is $7,469.62 and its two-hundred day simple moving average is $7,587.86.

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

NVR announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 11th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About NVR

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.