NVR (NYSE:NVR) Given New $9,245.00 Price Target at JPMorgan Chase & Co.

NVR (NYSE:NVR) had its target price lowered by JPMorgan Chase & Co. from $9,820.00 to $9,245.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

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

NVR Stock Performance

NVR stock opened at $8,587.63 on Friday. The business has a 50 day moving average of $9,250.20 and a 200-day moving average of $8,758.33. The firm has a market cap of $26.28 billion, a PE ratio of 17.56, a P/E/G ratio of 1.90 and a beta of 1.18. NVR has a 12-month low of $6,768.02 and a 12-month high of $9,964.77. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21.

NVR (NYSE:NVR) last announced its earnings results on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $131.00 by ($0.50). NVR had a net margin of 16.51% and a return on equity of 38.20%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the business earned $125.26 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that NVR will post 494.48 earnings per share for the current year.

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

Insider Transactions at NVR

In other NVR news, Director David A. Preiser sold 250 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total value 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 represents a 51.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the firm’s 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 directly owns 208 shares of the company’s stock, valued at approximately $1,965,600. The trade was a 65.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 775 shares of company stock valued at $7,294,073 over the last three months. Company insiders own 7.00% of the company’s stock.

Institutional Trading of NVR

Several institutional investors and hedge funds have recently modified their holdings of NVR. Massmutual Trust Co. FSB ADV grew its holdings in shares of NVR by 100.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock worth $39,000 after purchasing an additional 2 shares in the last quarter. Blue Trust Inc. purchased a new position in NVR in the 3rd quarter worth approximately $39,000. Rakuten Securities Inc. bought a new position in shares of NVR in the 3rd quarter worth $39,000. Redwood Wealth Management Group LLC purchased a new stake in shares of NVR during the 2nd quarter valued at $46,000. Finally, Private Trust Co. NA raised its position in shares of NVR by 66.7% during the 3rd quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock valued at $49,000 after buying an additional 2 shares in the last quarter. Hedge funds and other 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.