Everence Capital Management Inc. Buys New Shares in NVR, Inc. (NYSE:NVR)

Everence Capital Management Inc. bought a new position in NVR, Inc. (NYSE:NVR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50 shares of the construction company’s stock, valued at approximately $409,000.

A number of other institutional investors also recently made changes to their positions in NVR. Massmutual Trust Co. FSB ADV lifted its stake in shares of NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock valued at $39,000 after acquiring an additional 2 shares during the last quarter. Blue Trust Inc. bought a new position in shares of NVR in the third quarter worth approximately $39,000. Rakuten Securities Inc. purchased a new position in shares of NVR in the third quarter worth $39,000. Redwood Wealth Management Group LLC bought a new stake in NVR during the 2nd quarter valued at $46,000. Finally, Private Trust Co. NA boosted its position in 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 during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

NVR Stock Performance

NVR stock opened at $8,070.60 on Monday. NVR, Inc. has a fifty-two week low of $6,800.00 and a fifty-two week high of $9,964.77. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.84 and a beta of 1.20. The stock’s 50 day simple moving average is $8,837.07 and its two-hundred day simple moving average is $8,825.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.54 and a current ratio of 6.21.

NVR (NYSE:NVR) last issued its quarterly earnings results 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). NVR had a return on equity of 38.20% and a net margin of 16.51%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the company earned $125.26 earnings per share. NVR’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts expect that NVR, Inc. will post 494.48 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of NVR stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $9,450.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Preiser sold 250 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the completion of the transaction, the director now owns 239 shares in the company, valued at approximately $2,223,330.96. This 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 worth $7,294,073 in the last 90 days. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. StockNews.com lowered NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America dropped their price objective on NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group upped their target price on NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, NVR currently has a consensus rating of “Hold” and an average price target of $9,765.00.

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.