Bank of America Cuts NVR (NYSE:NVR) Price Target to $10,600.00

NVR (NYSE:NVR) had its price objective dropped by analysts at Bank of America from $10,800.00 to $10,600.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s target price suggests a potential upside of 12.78% from the company’s current price.

Separately, UBS Group raised their target price on NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a report on Wednesday.

NVR Stock Performance

NYSE NVR traded down $39.17 on Wednesday, hitting $9,399.18. 4,639 shares of the company’s stock traded hands, compared to its average volume of 19,207. The firm has a market capitalization of $28.95 billion, a PE ratio of 19.42, a P/E/G ratio of 2.61 and a beta of 1.19. NVR has a 1-year low of $5,210.49 and a 1-year high of $9,964.77. The firm’s 50-day moving average price is $9,353.94 and its two-hundred day moving average price is $8,360.43. The company has a current ratio of 5.84, a quick ratio of 3.32 and a debt-to-equity ratio of 0.22.

NVR (NYSE:NVR) last posted its earnings results on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $131.00 by ($0.50). The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. NVR had a net margin of 16.83% and a return on equity of 38.51%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $125.26 earnings per share. As a group, analysts expect that NVR will post 500.67 EPS for the current year.

Insider Activity at NVR

In other NVR news, Director Susan Williamson Ross sold 125 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $8,505.91, for a total value of $1,063,238.75. Following the completion of the transaction, the director now owns 391 shares in the company, valued at approximately $3,325,810.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Susan Williamson Ross sold 125 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $8,505.91, for a total transaction of $1,063,238.75. Following the transaction, the director now owns 391 shares in the company, valued at $3,325,810.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Matthew B. Kelpy sold 200 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $8,500.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at approximately $1,955,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 648 shares of company stock worth $5,547,709. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in NVR by 1,100,012.1% in the 3rd quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock valued at $3,562,046,000 after purchasing an additional 363,004 shares during the last quarter. TD Asset Management Inc raised its position in shares of NVR by 143.8% in the second quarter. TD Asset Management Inc now owns 24,020 shares of the construction company’s stock valued at $182,277,000 after buying an additional 14,167 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of NVR by 321.1% in the first quarter. Acadian Asset Management LLC now owns 14,371 shares of the construction company’s stock valued at $116,389,000 after buying an additional 10,958 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of NVR by 98.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 17,469 shares of the construction company’s stock worth $141,498,000 after buying an additional 8,684 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in NVR by 56.0% during the second quarter. Epoch Investment Partners Inc. now owns 22,680 shares of the construction company’s stock worth $172,109,000 after acquiring an additional 8,140 shares during the last quarter. Institutional investors and hedge funds 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.