Bank of New York Mellon Corp trimmed its position in NVR, Inc. (NYSE:NVR) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,859 shares of the construction company’s stock after selling 876 shares during the quarter. Bank of New York Mellon Corp owned 1.27% of NVR worth $164,391,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC bought a new position in NVR in the fourth quarter valued at approximately $133,000. Toronto Dominion Bank bought a new position in NVR in the second quarter valued at approximately $104,000. Checchi Capital Advisers LLC bought a new position in NVR in the fourth quarter valued at approximately $200,000. Greenleaf Trust increased its stake in NVR by 1,120.0% in the fourth quarter. Greenleaf Trust now owns 61 shares of the construction company’s stock valued at $214,000 after acquiring an additional 56 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new position in NVR in the fourth quarter valued at approximately $225,000. 76.70% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on NVR shares. UBS Group lifted their price objective on shares of NVR from $3,450.00 to $3,750.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. ValuEngine upgraded shares of NVR from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of NVR from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3,064.50.
NVR (NYSE:NVR) last issued its earnings results on Thursday, January 25th. The construction company reported $43.41 earnings per share for the quarter, missing analysts’ consensus estimates of $48.95 by ($5.54). NVR had a net margin of 8.70% and a return on equity of 38.72%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $37.80 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. equities research analysts expect that NVR, Inc. will post 188.66 EPS for the current fiscal year.
NVR declared that its Board of Directors has approved a share repurchase program on Tuesday, December 12th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other NVR news, Director Eddie Arthur Grier sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $2,968.07, for a total value of $1,187,228.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Grady Rosier sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $3,145.90, for a total transaction of $2,044,835.00. Following the completion of the sale, the director now owns 1,862 shares in the company, valued at approximately $5,857,665.80. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.
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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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