Truist Financial Begins Coverage on NVR (NYSE:NVR)

Stock analysts at Truist Financial started coverage on shares of NVR (NYSE:NVR) in a report released on Wednesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $7,700.00 price target on the construction company’s stock. Truist Financial’s price target suggests a potential upside of 8.82% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of NVR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NVR in a research note on Thursday, January 22nd. BTIG Research began coverage on shares of NVR in a research note on Monday, December 1st. They issued a “buy” rating and a $9,022.00 target price for the company. UBS Group set a $8,100.00 price target on NVR in a research report on Friday, February 13th. Finally, Zelman & Associates raised NVR from a “sell” rating to a “hold” rating and set a $7,675.00 price target for the company in a report on Thursday, January 29th. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8,182.83.

NVR Trading Down 2.4%

Shares of NVR opened at $7,075.99 on Wednesday. The company has a current ratio of 6.21, a quick ratio of 3.71 and a debt-to-equity ratio of 0.24. The stock has a market cap of $19.74 billion, a PE ratio of 16.18, a PEG ratio of 2.49 and a beta of 1.04. NVR has a 1 year low of $6,562.85 and a 1 year high of $8,618.28. The stock has a 50 day simple moving average of $7,560.62 and a 200-day simple moving average of $7,664.44.

NVR (NYSE:NVR) last announced its quarterly earnings results on Wednesday, January 28th. The construction company reported $121.54 earnings per share for the quarter, beating analysts’ consensus estimates of $105.42 by $16.12. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.41 billion. NVR had a return on equity of 34.28% and a net margin of 13.27%.The business’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $139.93 earnings per share. On average, sell-side analysts predict that NVR will post 505.2 EPS for the current fiscal year.

NVR announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at NVR

In other news, CAO Matthew B. Kelpy sold 500 shares of the business’s 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 completion of the sale, the chief accounting officer owned 208 shares in the company, valued at $1,684,800. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan Williamson Ross sold 220 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $8,000.00, for a total value of $1,760,000.00. Following the transaction, the director directly owned 386 shares in the company, valued at $3,088,000. This trade represents a 36.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,120 shares of company stock valued at $9,012,736 in the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of NVR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of NVR by 34,923.5% in the 4th quarter. M&T Bank Corp now owns 56,738 shares of the construction company’s stock valued at $413,777,000 after purchasing an additional 56,576 shares during the last quarter. Norges Bank acquired a new position in NVR in the fourth quarter valued at approximately $311,496,000. Corient Private Wealth LLC boosted its stake in NVR by 407.5% in the fourth quarter. Corient Private Wealth LLC now owns 45,572 shares of the construction company’s stock valued at $332,346,000 after acquiring an additional 36,592 shares during the last quarter. Close Asset Management Ltd acquired a new stake in NVR during the 3rd quarter worth $148,939,000. Finally, Citadel Advisors LLC grew its holdings in NVR by 318.4% during the 3rd quarter. Citadel Advisors LLC now owns 19,215 shares of the construction company’s stock worth $154,386,000 after acquiring an additional 14,623 shares during the period. 83.67% of the stock is owned by institutional investors.

About NVR

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.