NVR, Inc. (NYSE:NVR) Issues Quarterly Earnings Results, Beats Estimates By $6.56 EPS
NVR, Inc. (NYSE:NVR) released its earnings results on Friday, July 21st. The construction company reported $35.19 earnings per share for the quarter, beating analysts’ consensus estimates of $28.63 by $6.56, MarketWatch Earnings reports. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. NVR had a net margin of 8.67% and a return on equity of 37.43%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $22.01 earnings per share.
Shares of NVR (NYSE NVR) opened at 2741.03 on Thursday. NVR has a 1-year low of $1,478.04 and a 1-year high of $2,748.57. The firm has a market cap of $10.26 billion, a PE ratio of 21.68 and a beta of 0.67. The stock’s 50 day moving average is $2,548.88 and its 200-day moving average is $2,211.24.
In other news, Director Eddie Arthur Grier sold 325 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $2,283.55, for a total value of $742,153.75. Following the completion of the sale, the director now owns 500 shares in the company, valued at approximately $1,141,775. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel David Malzahn sold 1,500 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $2,678.35, for a total transaction of $4,017,525.00. Following the transaction, the chief financial officer now owns 4,225 shares of the company’s stock, valued at approximately $11,316,028.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,161 shares of company stock valued at $17,949,273. Company insiders own 11.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in NVR by 88.0% in the second quarter. US Bancorp DE now owns 47 shares of the construction company’s stock valued at $113,000 after buying an additional 22 shares during the last quarter. Huntington National Bank raised its position in NVR by 1,325.0% in the first quarter. Huntington National Bank now owns 57 shares of the construction company’s stock valued at $120,000 after buying an additional 53 shares during the last quarter. Acrospire Investment Management LLC bought a new position in NVR during the first quarter valued at $124,000. PNC Financial Services Group Inc. raised its position in NVR by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock valued at $148,000 after buying an additional 9 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in NVR during the first quarter valued at $158,000. Institutional investors own 77.85% of the company’s stock.
A number of research analysts recently weighed in on the stock. MKM Partners reaffirmed a “neutral” rating and issued a $2,600.00 target price (up previously from $1,900.00) on shares of NVR in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of NVR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and issued a $2,690.00 price target (up previously from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. ValuEngine upgraded shares of NVR from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, Zelman & Associates cut shares of NVR from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. NVR has a consensus rating of “Hold” and a consensus target price of $2,672.00.
NVR Company Profile
NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).
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