JPMorgan Chase & Co. Cuts NVR (NYSE:NVR) Price Target to $9,245.00

NVR (NYSE:NVR) had its target price cut by JPMorgan Chase & Co. from $9,820.00 to $9,245.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other analysts also recently weighed in on NVR. Seaport Res Ptn downgraded shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America dropped their price objective on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group upped their price target on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9,765.00.

NVR Stock Down 2.4 %

NYSE NVR opened at $8,587.63 on Friday. The company has a current ratio of 6.21, a quick ratio of 3.54 and a debt-to-equity ratio of 0.21. The company has a market cap of $26.28 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.90 and a beta of 1.18. The company has a 50 day moving average of $9,250.20 and a 200-day moving average of $8,758.33. NVR has a 1-year low of $6,768.02 and a 1-year high of $9,964.77.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share for the quarter, missing the consensus estimate of $131.00 by ($0.50). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. NVR had a net margin of 16.51% and a return on equity of 38.20%. NVR’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $125.26 earnings per share. On average, equities research analysts expect that NVR will post 494.48 earnings per share for the current fiscal year.

NVR announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Matthew B. Kelpy sold 400 shares of NVR stock in a transaction on Tuesday, November 5th. The shares were 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 owns 208 shares of the company’s stock, valued at $1,965,600. This trade represents a 65.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Preiser sold 250 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total transaction 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 775 shares of company stock valued at $7,294,073 in the last ninety days. 7.00% of the stock is currently owned by insiders.

Institutional Trading of NVR

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of NVR by 1,100,012.1% during the third quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock worth $3,562,046,000 after purchasing an additional 363,004 shares during the period. Jennison Associates LLC bought a new position in shares of NVR in the third quarter valued at $348,545,000. Mizuho Securities USA LLC grew its holdings in shares of NVR by 6,454.8% during the third quarter. Mizuho Securities USA LLC now owns 16,518 shares of the construction company’s stock valued at $162,071,000 after buying an additional 16,266 shares during the last quarter. TD Asset Management Inc increased its position in shares of NVR by 143.8% during the second quarter. TD Asset Management Inc now owns 24,020 shares of the construction company’s stock worth $182,277,000 after acquiring an additional 14,167 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in NVR by 56.0% during the 2nd quarter. Epoch Investment Partners Inc. now owns 22,680 shares of the construction company’s stock worth $172,109,000 after purchasing an additional 8,140 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

NVR Company Profile

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.