NVR (NYSE:NVR) Stock Rating Upgraded by Evercore
Evercore upgraded shares of NVR (NYSE:NVR) from an in-line rating to an outperform rating in a research note published on Friday morning, BenzingaRatingsTable reports.
Several other analysts also recently commented on NVR. Wells Fargo & Co increased their target price on shares of NVR from $3,500.00 to $3,725.00 and gave the company a market perform rating in a report on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine downgraded shares of NVR from a buy rating to a hold rating in a report on Wednesday, July 24th. Zacks Investment Research upgraded shares of NVR from a hold rating to a strong-buy rating and set a $3,642.00 target price for the company in a report on Thursday, July 11th. Buckingham Research increased their target price on shares of NVR from $3,580.00 to $3,860.00 and gave the company a buy rating in a report on Tuesday, July 9th. Finally, Evercore ISI upgraded shares of NVR from an in-line rating to an outperform rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. NVR has an average rating of Buy and a consensus price target of $3,508.80.
Shares of NVR stock opened at $3,470.02 on Friday. The firm has a 50-day moving average price of $3,412.51. The stock has a market capitalization of $12.95 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 4.29. NVR has a one year low of $2,040.71 and a one year high of $3,582.99.
NVR announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Jeffrey D. Martchek sold 1,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $3,508.28, for a total transaction of $3,508,280.00. Following the completion of the transaction, the insider now owns 5,158 shares in the company, valued at $18,095,708.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul C. Saville sold 7,100 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $3,298.44, for a total transaction of $23,418,924.00. Following the transaction, the chief executive officer now owns 117,170 shares of the company’s stock, valued at approximately $386,478,214.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,620 shares of company stock valued at $131,627,481. 11.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd grew its position in NVR by 24.8% during the second quarter. IFM Investors Pty Ltd now owns 277 shares of the construction company’s stock valued at $934,000 after buying an additional 55 shares during the period. Waratah Capital Advisors Ltd. grew its position in NVR by 41.6% during the first quarter. Waratah Capital Advisors Ltd. now owns 4,098 shares of the construction company’s stock valued at $11,339,000 after buying an additional 1,204 shares during the period. Envestnet Asset Management Inc. grew its position in NVR by 39.8% during the first quarter. Envestnet Asset Management Inc. now owns 3,057 shares of the construction company’s stock valued at $8,459,000 after buying an additional 871 shares during the period. Argent Capital Management LLC grew its position in NVR by 74.8% during the first quarter. Argent Capital Management LLC now owns 465 shares of the construction company’s stock valued at $1,287,000 after buying an additional 199 shares during the period. Finally, Trexquant Investment LP bought a new position in NVR during the first quarter valued at about $2,626,000. Institutional investors own 79.32% of the company’s stock.
NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.
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