NVR Inc. (NVR) Rating Increased to Hold at Zacks Investment Research
NVR Inc. (NYSE:NVR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “NVR Inc. is a holding company that operates in two business segments; the construction and marketing of homes and in financial services. NVR’s homebuilding operations construct and sell single-family detached homes, townhomes and condominium buildings in two distinct product lines through the two divisions known as Ryan Homes and NVHomes. NVR’s also provides financial services including a mortgage banking operation. NVR’s mortgage banking business generates revenues primarily from origination fees, servicing fees,gains on marketing of loans, title fees, and sales of servicing rights. “
Separately, Wells Fargo & Co. began coverage on NVR in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. NVR has an average rating of “Hold” and a consensus target price of $1,713.50.
NVR (NYSE:NVR) opened at 1595.00 on Tuesday. The company has a 50-day moving average price of $1,562.78 and a 200 day moving average price of $1,667.16. NVR has a 1-year low of $1,462.02 and a 1-year high of $1,845.37. The firm has a market capitalization of $6.05 billion, a P/E ratio of 16.25 and a beta of 0.51.
NVR (NYSE:NVR) last released its quarterly earnings results on Thursday, October 20th. The company reported $28.46 EPS for the quarter, missing the consensus estimate of $29.46 by $1.00. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.56 billion. NVR had a return on equity of 31.70% and a net margin of 7.36%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $27.11 EPS. Analysts expect that NVR will post $99.23 earnings per share for the current fiscal year.
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In related news, Director David A. Preiser sold 600 shares of NVR stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $1,504.33, for a total value of $902,598.00. Following the sale, the director now directly owns 271 shares in the company, valued at $407,673.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.20% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of NVR. Hennessy Advisors Inc. increased its stake in NVR by 3.2% in the second quarter. Hennessy Advisors Inc. now owns 22,414 shares of the company’s stock worth $39,905,000 after buying an additional 700 shares during the period. HL Financial Services LLC increased its stake in NVR by 0.5% in the second quarter. HL Financial Services LLC now owns 1,730 shares of the company’s stock worth $3,080,000 after buying an additional 8 shares during the period. Concert Wealth Management Inc. increased its stake in NVR by 2.3% in the second quarter. Concert Wealth Management Inc. now owns 135 shares of the company’s stock worth $244,000 after buying an additional 3 shares during the period. Victory Capital Management Inc. increased its stake in NVR by 142.8% in the second quarter. Victory Capital Management Inc. now owns 59,876 shares of the company’s stock worth $106,599,000 after buying an additional 35,218 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in NVR by 5.0% in the second quarter. PNC Financial Services Group Inc. now owns 209 shares of the company’s stock worth $372,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.
NVR Company Profile
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company also operates a mortgage banking and title services business. The Company’s mortgage banking operations are operated primarily through a subsidiary, NVR Mortgage Finance, Inc (NVRM).
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