CIBC Asset Management Inc Cuts Stake in NVR, Inc. (NVR)
CIBC Asset Management Inc decreased its position in NVR, Inc. (NYSE:NVR) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238 shares of the construction company’s stock after selling 6 shares during the period. CIBC Asset Management Inc’s holdings in NVR were worth $574,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of NVR during the first quarter worth about $297,000. Old Mutual Global Investors UK Ltd. raised its position in shares of NVR by 36.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 31,103 shares of the construction company’s stock worth $65,530,000 after buying an additional 8,278 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of NVR by 75.8% in the first quarter. Russell Investments Group Ltd. now owns 27,244 shares of the construction company’s stock worth $57,393,000 after buying an additional 11,750 shares during the last quarter. Shell Asset Management Co. bought a new position in shares of NVR during the first quarter worth about $588,000. Finally, First Quadrant L P CA bought a new position in shares of NVR during the first quarter worth about $8,295,000. Institutional investors own 77.29% of the company’s stock.
NVR, Inc. (NYSE:NVR) opened at 2735.50 on Wednesday. NVR, Inc. has a one year low of $1,478.04 and a one year high of $2,767.30. The company has a 50-day moving average of $2,578.53 and a 200 day moving average of $2,240.56. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 21.64 and a beta of 0.67.
NVR (NYSE:NVR) last posted its earnings results on Friday, July 21st. The construction company reported $35.19 EPS for the quarter, topping the consensus estimate of $28.63 by $6.56. NVR had a net margin of 8.67% and a return on equity of 37.43%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the company earned $22.01 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that NVR, Inc. will post $139.24 EPS for the current year.
Several equities analysts recently weighed in on NVR shares. MKM Partners restated a “neutral” rating and issued a $2,600.00 price objective (up from $1,900.00) on shares of NVR in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of NVR from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Bank of America Corporation restated a “buy” rating and issued a $2,690.00 price objective (up from $2,485.00) on shares of NVR in a report on Wednesday, June 28th. ValuEngine upgraded shares of NVR from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Zelman & Associates lowered shares of NVR from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2,672.00.
In other news, CFO Daniel David Malzahn sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $2,678.35, for a total value of $4,017,525.00. Following the transaction, the chief financial officer now owns 4,225 shares in the company, valued at approximately $11,316,028.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddie Arthur Grier sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $2,283.55, for a total transaction of $742,153.75. Following the completion of the transaction, the director now owns 500 shares in the company, valued at approximately $1,141,775. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,161 shares of company stock worth $17,949,273. 11.30% of the stock is owned by corporate insiders.
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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