IMS Capital Management Purchases 60 Shares of NVR, Inc. (NVR)
IMS Capital Management boosted its stake in NVR, Inc. (NYSE:NVR) by 60.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159 shares of the construction company’s stock after buying an additional 60 shares during the period. IMS Capital Management’s holdings in NVR were worth $383,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVR. Wells Fargo & Company MN raised its position in shares of NVR by 5.6% in the first quarter. Wells Fargo & Company MN now owns 11,834 shares of the construction company’s stock valued at $24,933,000 after buying an additional 628 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of NVR during the first quarter valued at 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 valued at $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 valued at $57,393,000 after buying an additional 11,750 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of NVR during the first quarter valued at about $588,000. Institutional investors and hedge funds own 77.29% of the company’s stock.
NVR, Inc. (NYSE NVR) opened at 2760.18 on Thursday. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 21.84 and a beta of 0.67. NVR, Inc. has a 12-month low of $1,478.04 and a 12-month high of $2,767.30. The stock has a 50 day moving average price of $2,587.85 and a 200-day moving average price of $2,244.30.
NVR (NYSE:NVR) last issued its quarterly earnings results on Friday, July 21st. The construction company reported $35.19 EPS for the quarter, topping analysts’ consensus estimates of $28.63 by $6.56. NVR had a return on equity of 37.43% and a net margin of 8.67%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $22.01 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts predict that NVR, Inc. will post $139.24 EPS for the current fiscal year.
Several research analysts have issued reports on the company. MKM Partners reiterated a “neutral” rating and issued a $2,600.00 price target (up previously from $1,900.00) on shares of NVR in a report on Tuesday, July 25th. Zacks Investment Research lowered NVR from a “hold” rating to a “sell” rating in a report 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 report on Wednesday, June 28th. ValuEngine upgraded NVR from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Zelman & Associates lowered NVR from a “buy” rating to a “hold” rating in a report 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’s stock. NVR presently has an average rating of “Hold” and an average target price of $2,672.00.
In related news, Director Timothy M. Donahue sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $2,730.07, for a total value of $887,272.75. Following the transaction, the director now directly owns 843 shares of the company’s stock, valued at approximately $2,301,449.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel David Malzahn sold 1,500 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 4,225 shares in the company, valued at $11,316,028.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,486 shares of company stock worth $18,836,546. Insiders own 11.30% 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’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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