NVR (NYSE:NVR) Downgraded by Seaport Research Partners to “Strong Sell”

Seaport Research Partners cut shares of NVR (NYSE:NVR) from a hold rating to a strong sell rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $5,664.00 price objective on the construction company’s stock.

Several other analysts have also recently issued reports on the stock. UBS Group set a $8,100.00 target price on shares of NVR in a research report on Friday, February 13th. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. Truist Financial began coverage on shares of NVR in a research report on Wednesday, March 4th. They set a “hold” rating and a $7,700.00 target price on the stock. Finally, Zelman & Associates upgraded shares of NVR from a “sell” rating to a “hold” rating and set a $7,675.00 target price on the stock in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8,182.83.

NVR Stock Down 3.2%

Shares of NVR stock opened at $6,501.06 on Monday. The stock has a market cap of $18.06 billion, a P/E ratio of 14.87, a PEG ratio of 2.27 and a beta of 1.07. NVR has a 52 week low of $6,301.02 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 fifty day simple moving average is $7,147.91 and its two-hundred day simple moving average is $7,391.81.

NVR (NYSE:NVR) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, topping the consensus estimate of $105.42 by $16.12. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.41 billion. NVR had a net margin of 13.27% and a return on equity of 34.28%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $139.93 EPS. Analysts predict that NVR will post 505.2 EPS for the current fiscal year.

NVR announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 500 shares of the company’s stock in a transaction dated 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. This represents a 70.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Williamson Ross sold 200 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total transaction of $1,584,412.00. Following the transaction, the director owned 386 shares in the company, valued at $3,057,915.16. The trade was a 34.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,120 shares of company stock worth $9,012,736 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On NVR

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in NVR by 35.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 185 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 48 shares during the last quarter. Meadowbrook Advisors Group LLC bought a new position in NVR during the 4th quarter valued at about $868,000. Corient Private Wealth LLC grew its holdings in NVR by 1.5% during the 4th quarter. Corient Private Wealth LLC now owns 9,116 shares of the construction company’s stock valued at $66,481,000 after purchasing an additional 136 shares during the last quarter. Pure Financial Advisors LLC grew its holdings in NVR by 1.0% during the 4th quarter. Pure Financial Advisors LLC now owns 311 shares of the construction company’s stock valued at $2,268,000 after purchasing an additional 3 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in NVR during the 4th quarter valued at about $102,000. 83.67% of the stock is currently owned by institutional investors.

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.