NVR’s (NYSE:NVR) “Market Perform” Rating Reiterated at Wells Fargo & Co
NVR (NYSE:NVR)‘s stock had its “market perform” rating reaffirmed by research analysts at Wells Fargo & Co in a research report issued on Friday, October 19th. They presently have a $2,410.00 price objective on the construction company’s stock, down from their previous price objective of $3,780.00. Wells Fargo & Co’s price objective would indicate a potential upside of 4.10% from the stock’s previous close.
A number of other brokerages have also recently weighed in on NVR. ValuEngine cut NVR from a “sell” rating to a “strong sell” rating in a report on Friday, September 28th. Zacks Investment Research cut NVR from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. reissued a “$2,892.50” rating and set a $3,100.00 price objective (down from $3,450.00) on shares of NVR in a report on Monday, July 23rd. MKM Partners decreased their price objective on NVR to $3,100.00 and set a “neutral” rating on the stock in a report on Friday, August 3rd. Finally, 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 report on Thursday, October 18th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. NVR has an average rating of “Hold” and a consensus price target of $3,104.33.
Shares of NYSE:NVR traded up $23.50 on Friday, hitting $2,315.05. The company’s stock had a trading volume of 25,389 shares, compared to its average volume of 42,858. NVR has a 1 year low of $2,040.71 and a 1 year high of $3,700.00. The stock has a market cap of $8.32 billion, a P/E ratio of 12.78, a PEG ratio of 0.88 and a beta of 0.62. The company has a quick ratio of 1.53, a current ratio of 3.74 and a debt-to-equity ratio of 0.36.
NVR declared that its board has initiated a stock repurchase program on Wednesday, August 1st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Jeffrey D. Martchek sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $2,727.09, for a total transaction of $2,727,090.00. Following the transaction, the insider now directly owns 5,198 shares in the company, valued at approximately $14,175,413.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Melquiades R. Martinez acquired 60 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was acquired at an average price of $2,359.50 per share, for a total transaction of $141,570.00. Following the completion of the transaction, the director now owns 191 shares in the company, valued at approximately $450,664.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 22,053 shares of company stock worth $48,606,919. 11.30% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Navellier & Associates Inc grew its position in shares of NVR by 5.1% in the 2nd quarter. Navellier & Associates Inc now owns 436 shares of the construction company’s stock worth $1,295,000 after buying an additional 21 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of NVR by 2.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 825 shares of the construction company’s stock worth $2,310,000 after buying an additional 22 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of NVR by 1.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 1,917 shares of the construction company’s stock worth $4,737,000 after buying an additional 23 shares during the last quarter. Cerebellum GP LLC grew its position in shares of NVR by 57.8% in the 3rd quarter. Cerebellum GP LLC now owns 71 shares of the construction company’s stock worth $175,000 after buying an additional 26 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of NVR by 17.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 192 shares of the construction company’s stock worth $474,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 77.52% 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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