Wells Fargo & Co Reaffirms “Market Perform” Rating for NVR (NVR)
Wells Fargo & Co reaffirmed their market perform rating on shares of NVR (NYSE:NVR) in a report issued on Friday morning. They currently have a $2,410.00 price target on the construction company’s stock, down from their prior price target of $3,780.00.
A number of other analysts have also recently issued reports on NVR. Bank of America cut NVR from a buy rating to a neutral rating and set a $2,850.00 price objective on the stock. in a research report on Thursday. JPMorgan Chase & Co. restated a $2,892.50 rating and set a $3,100.00 price objective (down from $3,450.00) on shares of NVR in a research report on Monday, July 23rd. ValuEngine cut NVR from a hold rating to a sell rating in a research report on Monday, July 30th. MKM Partners lowered their price objective on NVR to $3,100.00 and set a neutral rating on the stock in a research report on Friday, August 3rd. Finally, Zacks Investment Research cut NVR from a hold rating to a sell rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3,104.33.
Shares of NVR traded up $4.57 on Friday, reaching $2,170.00. 42,216 shares of the stock traded hands, compared to its average volume of 39,272. The stock has a market cap of $7.85 billion, a PE ratio of 15.33, a P/E/G ratio of 0.79 and a beta of 0.47. The company has a current ratio of 3.67, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37. NVR has a 12 month low of $2,040.71 and a 12 month high of $3,700.00.
NVR announced that its board has initiated a share repurchase plan on Wednesday, August 1st that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other NVR news, insider Jeffrey D. Martchek sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $2,713.28, for a total value of $2,713,280.00. Following the sale, the insider now directly owns 5,198 shares in the company, valued at $14,103,629.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddie Arthur Grier sold 108 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $2,722.12, for a total value of $293,988.96. Following the completion of the sale, the director now owns 193 shares in the company, valued at $525,369.16. The disclosure for this sale can be found here. Insiders sold 2,108 shares of company stock worth $5,734,359 over the last quarter. Company insiders own 11.30% of the company’s stock.
Large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new stake in NVR in the second quarter valued at $109,000. Cerebellum GP LLC grew its position in NVR by 57.8% in the third quarter. Cerebellum GP LLC now owns 71 shares of the construction company’s stock valued at $175,000 after acquiring an additional 26 shares during the period. WealthPLAN Partners LLC bought a new stake in NVR in the second quarter valued at $220,000. Verition Fund Management LLC bought a new stake in NVR in the first quarter valued at $221,000. Finally, Moneta Group Investment Advisors LLC grew its position in NVR by 102.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 79 shares of the construction company’s stock valued at $235,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.
NVR Company Profile
NVR, Inc operates as a homebuilder in the United States. The company operates through four segments: Mid Atlantic, North East, Mid East, and South East. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
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