NVR (NYSE:NVR) Price Target Lowered to $8,225.00 at Bank of America

NVR (NYSE:NVR) had its price target cut by Bank of America from $8,600.00 to $8,225.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Zelman & Associates upgraded NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target on the stock in a research note on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. Truist Financial lowered their price objective on NVR from $7,700.00 to $7,100.00 and set a “hold” rating on the stock in a research note on Thursday. Seaport Research Partners reiterated a “sell” rating and issued a $5,664.00 price objective on shares of NVR in a research note on Tuesday, April 7th. Finally, UBS Group set a $8,100.00 price objective on NVR in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, NVR has an average rating of “Hold” and a consensus price target of $7,953.67.

NVR Price Performance

NYSE NVR opened at $7,078.73 on Monday. NVR has a twelve month low of $6,301.02 and a twelve month high of $8,618.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.71 and a current ratio of 6.21. The stock has a market capitalization of $19.68 billion, a PE ratio of 16.19, a P/E/G ratio of 2.43 and a beta of 1.07. The stock has a 50-day simple moving average of $6,971.97 and a 200 day simple moving average of $7,316.76.

NVR (NYSE:NVR) last posted its quarterly earnings data on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, topping the consensus estimate of $105.42 by $16.12. NVR had a return on equity of 34.28% and a net margin of 13.27%.The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm earned $139.93 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. Research analysts anticipate that NVR will post 409.37 EPS for the current year.

NVR declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 11th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVR

In other news, CAO Matthew B. Kelpy sold 500 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $8,100.00, for a total transaction of $4,050,000.00. Following the sale, the chief accounting officer owned 208 shares in the company, valued at approximately $1,684,800. This represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Williamson Ross sold 200 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $7,922.06, for a total value of $1,584,412.00. Following the completion of the sale, the director owned 386 shares of the company’s stock, valued at approximately $3,057,915.16. This trade represents a 34.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,120 shares of company stock worth $9,012,736 in the last 90 days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On NVR

A number of institutional investors have recently modified their holdings of the stock. DV Equities LLC bought a new stake in NVR in the fourth quarter valued at about $29,000. Strive Financial Group LLC bought a new stake in NVR in the fourth quarter valued at about $29,000. Oakworth Capital Inc. bought a new stake in NVR in the fourth quarter valued at about $36,000. State of Wyoming bought a new stake in NVR in the second quarter valued at about $44,000. Finally, USA Financial Formulas increased its holdings in NVR by 75.0% in the fourth quarter. USA Financial Formulas now owns 7 shares of the construction company’s stock valued at $51,000 after purchasing an additional 3 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

NVR Company Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.