North Dakota State Investment Board Takes Position in NVR, Inc. $NVR

North Dakota State Investment Board acquired a new stake in shares of NVR, Inc. (NYSE:NVR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 95 shares of the construction company’s stock, valued at approximately $693,000.

Other hedge funds have also made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in NVR in the 4th quarter valued at approximately $11,610,000. Principal Financial Group Inc. grew its holdings in NVR by 4.0% in the 3rd 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. American Century Companies Inc. grew its holdings in NVR by 17.0% in the 3rd quarter. American Century Companies Inc. now owns 6,370 shares of the construction company’s stock valued at $51,181,000 after buying an additional 925 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in NVR in the 3rd quarter valued at approximately $4,017,000. Finally, iA Global Asset Management Inc. acquired a new stake in NVR in the 3rd quarter valued at approximately $691,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Price Performance

Shares of NVR stock opened at $6,046.36 on Friday. The stock has a 50 day moving average of $6,416.75 and a two-hundred day moving average of $7,093.67. The company has a current ratio of 5.19, a quick ratio of 2.67 and a debt-to-equity ratio of 0.26. NVR, Inc. has a 12 month low of $5,501.01 and a 12 month high of $8,618.28. The company has a market capitalization of $16.33 billion, a P/E ratio of 14.74, a P/E/G ratio of 4.41 and a beta of 0.95.

NVR (NYSE:NVR) last announced its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 EPS for the quarter, missing analysts’ consensus estimates of $79.97 by ($12.21). NVR had a return on equity of 32.66% and a net margin of 12.93%.The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $94.83 EPS. NVR’s revenue was down 21.7% compared to the same quarter last year. As a group, equities analysts expect that NVR, Inc. will post 375.15 EPS for the current year.

NVR announced that its Board of Directors has approved a share buyback program on Wednesday, February 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at NVR

In other news, Director Michael J. Devito acquired 11 shares of NVR stock in a transaction on Friday, April 24th. The stock was bought at an average price of $6,699.50 per share, for a total transaction of $73,694.50. Following the transaction, the director owned 25 shares of the company’s stock, valued at $167,487.50. The trade was a 78.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on NVR shares. UBS Group lowered their target price on NVR from $8,100.00 to $7,700.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Seaport Research Partners reaffirmed a “sell” rating and issued a $5,664.00 target price on shares of NVR in a report on Tuesday, April 7th. Weiss Ratings lowered NVR from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Wall Street Zen raised NVR from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Bank of America lowered their target price on NVR from $8,600.00 to $8,225.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7,649.33.

NVR Company 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.