Smead Capital Management Inc. lifted its stake in NVR, Inc. (NYSE:NVR) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,619 shares of the construction company’s stock after acquiring an additional 2,922 shares during the quarter. NVR makes up 4.5% of Smead Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Smead Capital Management Inc. owned 1.12% of NVR worth $100,361,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NVR. Flagship Harbor Advisors LLC acquired a new position in shares of NVR in the second quarter worth $109,000. Cerebellum GP LLC increased its stake in shares of NVR by 57.8% in the third quarter. Cerebellum GP LLC now owns 71 shares of the construction company’s stock worth $175,000 after acquiring an additional 26 shares during the last quarter. WealthPLAN Partners LLC acquired a new position in shares of NVR in the second quarter worth $220,000. Verition Fund Management LLC acquired a new position in shares of NVR in the first quarter worth $221,000. Finally, Moneta Group Investment Advisors LLC increased its position in NVR by 102.6% during the second quarter. Moneta Group Investment Advisors LLC now owns 79 shares of the construction company’s stock worth $235,000 after buying an additional 40 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.
NVR stock traded up $43.34 during mid-day trading on Tuesday, hitting $2,173.24. 69,645 shares of the company’s stock were exchanged, compared to its average volume of 31,313. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 1.53. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.80 and a beta of 0.48. NVR, Inc. has a 1-year low of $2,040.71 and a 1-year high of $3,700.00.
NVR announced that its board has initiated a share buyback plan on Wednesday, August 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the construction company to purchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other NVR news, insider Jeffrey D. Martchek sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $2,727.09, for a total transaction of $2,727,090.00. Following the completion of the sale, the insider now directly owns 5,198 shares in the company, valued at $14,175,413.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddie Arthur Grier sold 108 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $2,722.12, for a total transaction of $293,988.96. Following the sale, the director now owns 193 shares of the company’s stock, valued at $525,369.16. The disclosure for this sale can be found here. Insiders have sold 2,108 shares of company stock worth $5,734,359 over the last three months. Company insiders own 12.00% of the company’s stock.
Several equities analysts have commented on the stock. MKM Partners lowered their target price on shares of NVR to $3,100.00 and set a “neutral” rating on the stock in a research report on Friday, August 3rd. Zacks Investment Research downgraded shares of NVR from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Bank of America downgraded shares of NVR from a “buy” rating to a “neutral” rating and set a $2,850.00 target price on the stock. in a research report on Thursday, October 18th. JPMorgan Chase & Co. reissued a “$2,892.50” rating and set a $3,100.00 target price (down from $3,450.00) on shares of NVR in a research report on Monday, July 23rd. Finally, ValuEngine downgraded shares of NVR from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. NVR has a consensus rating of “Hold” and a consensus target price of $3,104.33.
NVR, Inc operates as a homebuilder in the United States. The company operates through four segments: Mid Atlantic, North East, Mid East, and South East. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
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