UBS Group Cuts NVR (NYSE:NVR) Price Target to $8,750.00

NVR (NYSE:NVR) had its price target cut by UBS Group from $9,450.00 to $8,750.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. Bank of America cut their price objective on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com cut NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9,531.67.

NVR Stock Down 2.2 %

Shares of NVR opened at $7,830.05 on Wednesday. The stock has a fifty day simple moving average of $8,740.22 and a two-hundred day simple moving average of $8,819.30. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $23.99 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.20. NVR has a 52-week low of $6,800.00 and a 52-week high of $9,964.77.

NVR (NYSE:NVR) last issued its earnings results on Tuesday, October 22nd. The construction company reported $130.50 EPS for the quarter, missing analysts’ consensus estimates of $131.00 by ($0.50). NVR had a return on equity of 38.20% and a net margin of 16.51%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the firm earned $125.26 earnings per share. NVR’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that NVR will post 494.48 EPS for the current year.

NVR declared that its board has approved a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Matthew B. Kelpy sold 400 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 208 shares of the company’s stock, valued at approximately $1,965,600. This represents a 65.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Preiser sold 250 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the sale, the director now directly owns 239 shares in the company, valued at $2,223,330.96. This trade represents a 51.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 775 shares of company stock worth $7,294,073 in the last quarter. 7.00% of the stock is owned by company insiders.

Institutional Trading of NVR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock valued at $39,000 after buying an additional 2 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of NVR during the third quarter worth about $39,000. Rakuten Securities Inc. purchased a new stake in shares of NVR in the 3rd quarter valued at about $39,000. Redwood Wealth Management Group LLC acquired a new stake in shares of NVR in the 2nd quarter valued at about $46,000. Finally, Private Trust Co. NA grew its stake in NVR by 66.7% during the 3rd quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after buying an additional 2 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

About NVR

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.