NVR, Inc. (NVR) Sets New 52-Week High on Better-Than-Expected Earnings

NVR, Inc. (NYSE:NVR) hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $3,099.00 and last traded at $3,100.00, with a volume of 16,589 shares traded. The stock had previously closed at $2,900.08.

The construction company reported $38.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $35.77 by $2.25. NVR had a return on equity of 37.43% and a net margin of 8.67%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $28.46 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis.

NVR has been the subject of a number of research reports. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut NVR from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $2,690.00 price objective (up from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. MKM Partners reaffirmed a “neutral” rating on shares of NVR in a research note on Tuesday, September 5th. Finally, Zelman & Associates raised NVR from a “hold” rating to a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2,645.00.

In related news, Director Eddie Arthur Grier sold 165 shares of NVR stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $2,682.26, for a total value of $442,572.90. Following the completion of the transaction, the director now directly owns 340 shares in the company, valued at $911,968.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy M. Donahue sold 325 shares of NVR stock in a transaction on Wednesday, August 16th. The shares were 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 owns 843 shares of the company’s stock, valued at $2,301,449.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,240 shares of company stock valued at $11,355,358. 11.30% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in NVR by 1,740.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 8,319 shares of the construction company’s stock valued at $23,752,000 after purchasing an additional 7,867 shares during the period. Assenagon Asset Management S.A. boosted its holdings in NVR by 206.4% in the third quarter. Assenagon Asset Management S.A. now owns 5,788 shares of the construction company’s stock valued at $16,525,000 after purchasing an additional 3,899 shares during the period. Mutual of America Capital Management LLC boosted its holdings in NVR by 2.1% in the third quarter. Mutual of America Capital Management LLC now owns 3,065 shares of the construction company’s stock valued at $8,751,000 after purchasing an additional 64 shares during the period. Shell Asset Management Co. boosted its holdings in NVR by 61.9% in the third quarter. Shell Asset Management Co. now owns 1,025 shares of the construction company’s stock valued at $1,158,000 after purchasing an additional 392 shares during the period. Finally, Achmea Investment Management B.V. purchased a new position in NVR in the second quarter valued at $1,052,000. Hedge funds and other institutional investors own 79.70% of the company’s stock.

The company has a market capitalization of $12.06 billion, a PE ratio of 25.50 and a beta of 0.67. The stock’s 50-day moving average price is $2,855.62 and its 200-day moving average price is $2,520.35.

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NVR Company Profile

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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