Sumitomo Mitsui Trust Holdings Inc. Boosts Position in NVR, Inc. (NVR)
Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of NVR, Inc. (NYSE:NVR) by 6,921.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,953 shares of the construction company’s stock after buying an additional 10,797 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of NVR worth $26,403,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of NVR. US Bancorp DE boosted its stake in NVR by 88.0% in the second quarter. US Bancorp DE now owns 47 shares of the construction company’s stock valued at $113,000 after buying an additional 22 shares in the last quarter. Huntington National Bank boosted its stake in NVR by 1,325.0% in the first quarter. Huntington National Bank now owns 57 shares of the construction company’s stock valued at $120,000 after buying an additional 53 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in NVR during the first quarter valued at $124,000. PNC Financial Services Group Inc. boosted its stake in NVR by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock valued at $148,000 after buying an additional 9 shares in the last quarter. Finally, Everett Harris & Co. CA acquired a new stake in NVR during the second quarter valued at $200,000. 79.76% of the stock is owned by institutional investors.
Shares of NVR, Inc. (NYSE:NVR) opened at 2659.33 on Thursday. NVR, Inc. has a 52-week low of $1,478.04 and a 52-week high of $2,775.52. The stock has a 50 day moving average price of $2,639.27 and a 200 day moving average price of $2,283.17. The company has a market capitalization of $9.95 billion, a PE ratio of 21.04 and a beta of 0.67.
NVR (NYSE:NVR) last posted 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 return on equity of 37.43% and a net margin of 8.67%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $22.01 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts predict that NVR, Inc. will post $139.24 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on NVR. MKM Partners reissued a “neutral” rating and issued a $2,600.00 price objective (up from $1,900.00) on shares of NVR in a research report on Tuesday, July 25th. Zelman & Associates cut NVR from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Zacks Investment Research raised NVR from a “hold” rating to a “buy” rating and set a $2,726.00 price objective for the company in a research report on Wednesday, June 28th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $2,690.00 price objective (up from $2,485.00) on shares of NVR in a research report on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. NVR currently has a consensus rating of “Hold” and a consensus target price of $2,672.00.
In other news, Director Timothy M. Donahue sold 325 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $2,730.07, for a total value of $887,272.75. Following the completion of the transaction, the director now directly owns 843 shares of the company’s stock, valued at $2,301,449.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel David Malzahn sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $2,678.35, for a total value of $4,017,525.00. Following the completion of the transaction, the chief financial officer now directly owns 4,225 shares of the company’s stock, valued at $11,316,028.75. The disclosure for this sale can be found here. Insiders sold 4,075 shares of company stock valued at $10,912,785 over the last ninety days. 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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