Bank of New York Mellon Corp Trims Stake in NVR, Inc. $NVR

Bank of New York Mellon Corp cut its position in shares of NVR, Inc. (NYSE:NVR) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,947 shares of the construction company’s stock after selling 797 shares during the period. Bank of New York Mellon Corp owned approximately 0.52% of NVR worth $120,097,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of NVR by 9.9% during the second quarter. Boston Partners now owns 64,952 shares of the construction company’s stock valued at $479,900,000 after buying an additional 5,875 shares during the period. Invesco Ltd. lifted its stake in shares of NVR by 7.5% during the 2nd quarter. Invesco Ltd. now owns 37,668 shares of the construction company’s stock worth $278,203,000 after acquiring an additional 2,629 shares during the last quarter. Norges Bank purchased a new position in NVR during the 2nd quarter valued at $268,447,000. First Trust Advisors LP boosted its holdings in NVR by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 25,017 shares of the construction company’s stock valued at $184,768,000 after acquiring an additional 894 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in NVR by 0.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,607 shares of the construction company’s stock valued at $159,582,000 after acquiring an additional 132 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVR. Bank of America decreased their target price on NVR from $9,100.00 to $9,000.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Zelman & Associates upgraded shares of 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. Weiss Ratings reissued a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. BTIG Research initiated coverage on shares of NVR in a research report on Monday, December 1st. They set a “buy” rating and a $9,022.00 target price on the stock. Finally, UBS Group reaffirmed a “neutral” rating and set a $8,350.00 price target on shares of NVR in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8,329.40.

NVR Stock Performance

Shares of NVR stock opened at $7,644.48 on Monday. The firm has a market cap of $21.71 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.43 and a beta of 1.03. NVR, Inc. has a 52-week low of $6,562.85 and a 52-week high of $8,618.28. The company has a quick ratio of 3.71, a current ratio of 6.21 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $7,490.93 and its 200 day moving average is $7,695.38.

NVR (NYSE:NVR) last announced its earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share (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 $2.71 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the firm earned $139.93 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that NVR, Inc. will post 505.2 EPS for the current fiscal year.

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.