Canada Pension Plan Investment Board Lowers Position in NVR, Inc. (NYSE:NVR)
Canada Pension Plan Investment Board reduced its stake in shares of NVR, Inc. (NYSE:NVR) by 46.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,180 shares of the construction company’s stock after selling 29,980 shares during the period. Canada Pension Plan Investment Board’s holdings in NVR were worth $82,395,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of NVR. Russell Investments Group Ltd. increased its position in shares of NVR by 75.8% in the first quarter. Russell Investments Group Ltd. now owns 27,244 shares of the construction company’s stock valued at $57,393,000 after buying an additional 11,750 shares during the last quarter. Shell Asset Management Co. bought a new position in shares of NVR during the first quarter valued at approximately $588,000. First Quadrant L P CA bought a new position in shares of NVR during the first quarter valued at approximately $8,295,000. Acadian Asset Management LLC increased its position in shares of NVR by 63,645.8% in the first quarter. Acadian Asset Management LLC now owns 15,299 shares of the construction company’s stock valued at $32,235,000 after buying an additional 15,275 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of NVR by 3.7% in the first quarter. Profund Advisors LLC now owns 841 shares of the construction company’s stock valued at $1,772,000 after buying an additional 30 shares during the last quarter. 77.85% of the stock is owned by institutional investors and hedge funds.
NVR, Inc. (NYSE:NVR) opened at 2741.03 on Thursday. The company has a 50-day moving average of $2,548.88 and a 200 day moving average of $2,211.24. NVR, Inc. has a 52 week low of $1,478.04 and a 52 week high of $2,748.57. The company has a market cap of $10.26 billion, a P/E ratio of 21.68 and a beta of 0.67.
NVR (NYSE:NVR) last released its quarterly earnings results on Friday, July 21st. The construction company reported $35.19 EPS for the quarter, topping the Zacks’ consensus estimate of $28.63 by $6.56. NVR had a net margin of 8.67% and a return on equity of 37.43%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $22.01 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that NVR, Inc. will post $139.24 EPS for the current fiscal year.
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Several brokerages recently commented on NVR. MKM Partners reissued a “neutral” rating and issued a $2,600.00 price objective (up previously from $1,900.00) on shares of NVR in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of NVR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and issued a $2,690.00 price objective (up previously from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. ValuEngine raised shares of NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, Zelman & Associates downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. NVR has a consensus rating of “Hold” and an average price target of $2,672.00.
In other news, Director William Grady Rosier sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $2,670.47, for a total value of $3,338,087.50. Following the completion of the sale, the director now directly owns 1,212 shares in the company, valued at approximately $3,236,609.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel David Malzahn sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $2,678.35, for a total transaction of $4,017,525.00. Following the completion of the sale, the chief financial officer now owns 4,225 shares of the company’s stock, valued at $11,316,028.75. The disclosure for this sale can be found here. In the last three months, insiders sold 7,161 shares of company stock valued at $17,949,273. Corporate insiders own 11.30% of the company’s stock.
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).
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