Korea Investment CORP Buys New Stake in NVR, Inc. (NYSE:NVR)
Korea Investment CORP bought a new stake in shares of NVR, Inc. (NYSE:NVR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,990 shares of the construction company’s stock, valued at approximately $9,618,000. Korea Investment CORP owned approximately 0.11% of NVR as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in NVR. Candriam Luxembourg S.C.A. purchased a new position in NVR during the second quarter valued at $4,518,000. Sei Investments Co. increased its position in shares of NVR by 475.6% in the second quarter. Sei Investments Co. now owns 236 shares of the construction company’s stock worth $569,000 after buying an additional 195 shares in the last quarter. Texas Permanent School Fund increased its position in shares of NVR by 2.0% in the second quarter. Texas Permanent School Fund now owns 2,545 shares of the construction company’s stock worth $6,135,000 after buying an additional 51 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of NVR during the second quarter worth approximately $482,000. Finally, Spark Investment Management LLC increased its position in shares of NVR by 128.0% in the second quarter. Spark Investment Management LLC now owns 2,800 shares of the construction company’s stock worth $6,749,000 after buying an additional 1,572 shares in the last quarter. 77.29% of the stock is owned by institutional investors.
NVR, Inc. (NVR) traded down 2.41% during midday trading on Friday, reaching $2683.55. The company had a trading volume of 32,574 shares. The firm’s 50-day moving average price is $2,606.37 and its 200 day moving average price is $2,253.67. The firm has a market capitalization of $10.04 billion, a PE ratio of 21.23 and a beta of 0.67. NVR, Inc. has a 12 month low of $1,478.04 and a 12 month high of $2,775.52.
NVR (NYSE:NVR) last issued its quarterly earnings data 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. NVR had a return on equity of 37.43% and a net margin of 8.67%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm earned $22.01 EPS. NVR’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that NVR, Inc. will post $139.24 earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on the company. MKM Partners reissued a “neutral” rating and set a $2,600.00 price objective (up from $1,900.00) on shares of NVR in a research report on Tuesday, July 25th. Zacks Investment Research downgraded NVR from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and set a $2,690.00 price objective (up from $2,485.00) on shares of NVR in a research report on Wednesday, June 28th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Finally, Zelman & Associates downgraded NVR from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $2,672.00.
In other NVR news, insider Jeffrey D. Martchek sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $2,352.35, for a total transaction of $2,352,350.00. Following the completion of the sale, the insider now owns 5,323 shares in the company, valued at approximately $12,521,559.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eddie Arthur Grier sold 325 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 500 shares of the company’s stock, valued at approximately $1,141,775. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,486 shares of company stock valued at $18,836,546. 11.30% of the stock is owned by 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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