PNC Financial Services Group Inc. Sells 84 Shares of NVR, Inc. $NVR

PNC Financial Services Group Inc. reduced its position in shares of NVR, Inc. (NYSE:NVR) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 861 shares of the construction company’s stock after selling 84 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NVR were worth $6,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in NVR during the 2nd quarter worth $268,447,000. Robeco Institutional Asset Management B.V. grew its stake in shares of NVR by 844.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 8,321 shares of the construction company’s stock valued at $66,856,000 after acquiring an additional 7,440 shares in the last quarter. Symphony Financial Ltd. Co. bought a new position in NVR during the second quarter worth about $54,548,000. Rakuten Investment Management Inc. bought a new position in NVR during the third quarter worth about $51,896,000. Finally, Boston Partners raised its stake in NVR by 9.9% in the 2nd quarter. Boston Partners now owns 64,952 shares of the construction company’s stock worth $479,900,000 after purchasing an additional 5,875 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVR news, CAO Matthew B. Kelpy sold 500 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief accounting officer owned 208 shares of the company’s stock, valued at approximately $1,684,800. The trade was a 70.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Williamson Ross sold 220 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $8,000.00, for a total transaction of $1,760,000.00. Following the completion of the transaction, the director directly owned 386 shares of the company’s stock, valued at $3,088,000. This trade represents a 36.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,120 shares of company stock valued at $9,012,736 in the last three months. 7.00% of the stock is owned by insiders.

NVR Stock Performance

NYSE NVR opened at $7,519.50 on Friday. The firm’s 50 day simple moving average is $7,575.74 and its 200 day simple moving average is $7,705.91. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.53 and a beta of 1.03. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $8,618.28.

NVR (NYSE:NVR) last announced its quarterly earnings data on Wednesday, January 28th. The construction company reported $121.54 EPS for the quarter, beating the consensus estimate of $105.42 by $16.12. NVR had a net margin of 13.27% and a return on equity of 34.28%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the business earned $139.93 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts expect that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVR shares. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a research report on Thursday, January 22nd. UBS Group set a $8,100.00 price target on NVR in a research note on Friday, February 13th. BTIG Research started coverage on NVR in a research report on Monday, December 1st. They set a “buy” rating and a $9,022.00 price target on the stock. Zelman & Associates raised 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, January 29th. Finally, Wall Street Zen upgraded NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8,279.40.

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.