Several other equities research analysts have also commented on the stock. Buckingham Research increased their price objective on shares of NVR from $3,580.00 to $3,860.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Co lowered shares of Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $62.00 to $50.00 in a research note on Monday. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Evercore ISI initiated coverage on shares of Helmerich & Payne in a research note on Thursday, June 6th. They issued an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NVR currently has an average rating of “Hold” and a consensus target price of $3,440.67.
Shares of NYSE:NVR opened at $3,419.93 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. NVR has a 52-week low of $2,040.71 and a 52-week high of $3,582.99. The firm has a market capitalization of $12.15 billion, a P/E ratio of 17.56, a PEG ratio of 1.53 and a beta of 0.66. The business’s fifty day moving average is $3,403.47.
NVR (NYSE:NVR) last released its quarterly earnings data on Friday, July 19th. The construction company reported $53.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $44.87 by $8.22. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. NVR had a net margin of 11.54% and a return on equity of 44.03%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $49.05 EPS. Sell-side analysts expect that NVR will post 206.55 earnings per share for the current fiscal year.
NVR declared that its board has approved a stock buyback program on Thursday, May 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, insider Eugene James Bredow sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $3,270.00, for a total value of $3,270,000.00. Following the completion of the transaction, the insider now directly owns 1,826 shares of the company’s stock, valued at approximately $5,971,020. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Preiser sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $3,214.00, for a total transaction of $1,607,000.00. Following the completion of the transaction, the director now directly owns 759 shares of the company’s stock, valued at $2,439,426. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,520 shares of company stock valued at $80,581,181. 11.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Weaver Consulting Group bought a new position in NVR in the 1st quarter valued at $34,000. Howe & Rusling Inc. bought a new position in NVR in the 1st quarter valued at $47,000. Machina Capital S.A.S. bought a new position in NVR in the 2nd quarter valued at $71,000. Penserra Capital Management LLC bought a new position in NVR in the 1st quarter valued at $66,000. Finally, Cullen Frost Bankers Inc. bought a new position in NVR in the 1st quarter valued at $69,000. 79.36% of the stock is owned by institutional investors.
NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells 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.
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