State of Michigan Retirement System Buys 100 Shares of NVR, Inc. $NVR

State of Michigan Retirement System lifted its stake in shares of NVR, Inc. (NYSE:NVR) by 10.6% in the second quarter, HoldingsChannel reports. The fund owned 1,046 shares of the construction company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in NVR were worth $7,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVR. AdvisorNet Financial Inc bought a new position in shares of NVR during the 2nd quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of NVR during the 1st quarter valued at approximately $36,000. Ridgewood Investments LLC grew its stake in shares of NVR by 150.0% during the 1st quarter. Ridgewood Investments LLC now owns 5 shares of the construction company’s stock valued at $36,000 after acquiring an additional 3 shares during the period. SouthState Corp bought a new position in shares of NVR during the 1st quarter valued at approximately $36,000. Finally, Blue Trust Inc. grew its stake in shares of NVR by 150.0% during the 2nd quarter. Blue Trust Inc. now owns 5 shares of the construction company’s stock valued at $37,000 after acquiring an additional 3 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at NVR

In other news, Director Alexandra A. Jung sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $8,082.44, for a total transaction of $1,616,488.00. Following the sale, the director directly owned 75 shares of the company’s stock, valued at $606,183. This represents a 72.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8,100.00, for a total value of $4,860,000.00. Following the sale, the chief accounting officer directly owned 208 shares in the company, valued at $1,684,800. This trade represents a 74.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 850 shares of company stock worth $6,888,075 over the last ninety days. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVR. Bank of America cut their price objective on NVR from $9,100.00 to $9,000.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of NVR in a research note on Wednesday, October 8th. Wall Street Zen downgraded NVR from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price target on NVR from $7,200.00 to $7,600.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, UBS Group upped their price target on NVR from $8,150.00 to $8,500.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8,366.67.

NVR Stock Down 2.1%

Shares of NVR opened at $7,061.37 on Tuesday. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 9.94 and a beta of 0.94. NVR, Inc. has a 1 year low of $6,562.85 and a 1 year high of $9,527.85. The business’s 50 day simple moving average is $7,923.20 and its 200-day simple moving average is $7,612.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.79 and a quick ratio of 2.97.

NVR (NYSE:NVR) last issued its quarterly earnings data on Wednesday, October 22nd. The construction company reported $112.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $107.88 by $4.45. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.54 billion. NVR had a return on equity of 35.81% and a net margin of 14.00%.The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $130.50 EPS. As a group, equities analysts expect that NVR, Inc. will post 505.2 earnings per share for the current fiscal year.

NVR Profile

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of 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.