Riverhead Capital Management LLC Has $716,000 Stake in NVR, Inc. (NVR)
Riverhead Capital Management LLC grew its holdings in shares of NVR, Inc. (NYSE:NVR) by 74.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 297 shares of the construction company’s stock after acquiring an additional 127 shares during the period. Riverhead Capital Management LLC’s holdings in NVR were worth $716,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of NVR by 88.0% during the second quarter. US Bancorp DE now owns 47 shares of the construction company’s stock valued at $113,000 after acquiring an additional 22 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NVR by 14.8% during the first quarter. PNC Financial Services Group Inc. now owns 70 shares of the construction company’s stock valued at $148,000 after acquiring an additional 9 shares during the last quarter. Everett Harris & Co. CA bought a new position in shares of NVR during the second quarter valued at $200,000. Hikari Power Ltd bought a new position in shares of NVR during the second quarter valued at $217,000. Finally, Moloney Securities Asset Management LLC bought a new position in shares of NVR during the second quarter valued at $224,000. 79.72% of the stock is owned by hedge funds and other institutional investors.
Shares of NVR, Inc. (NYSE:NVR) opened at 2794.55 on Tuesday. The stock’s 50 day moving average is $2,714.83 and its 200 day moving average is $2,377.59. The firm has a market capitalization of $10.46 billion, a PE ratio of 22.11 and a beta of 0.66. NVR, Inc. has a 52-week low of $1,478.04 and a 52-week high of $2,842.97.
NVR (NYSE:NVR) last posted its quarterly earnings results on Friday, July 21st. The construction company reported $35.19 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the business posted $22.01 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that NVR, Inc. will post $139.24 EPS for the current year.
NVR has been the subject of several analyst reports. ValuEngine raised shares of NVR from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of NVR from a “hold” rating to a “buy” rating and set a $2,726.00 price target for the company in a research note on Wednesday, June 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $2,690.00 price target (up previously from $2,485.00) on shares of NVR in a research note on Wednesday, June 28th. Zelman & Associates downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Finally, MKM Partners reaffirmed a “neutral” rating on shares of NVR in a research note on Tuesday, September 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. NVR presently has a consensus rating of “Hold” and a consensus price target of $2,672.00.
In related news, Director Timothy M. Donahue sold 325 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $2,730.07, for a total transaction of $887,272.75. Following the completion of the sale, the director now directly owns 843 shares in the company, valued at approximately $2,301,449.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Grady Rosier sold 1,250 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $2,670.47, for a total transaction of $3,338,087.50. Following the sale, the director now owns 1,212 shares of the company’s stock, valued at $3,236,609.64. The disclosure for this sale can be found here. Insiders have sold a total of 4,240 shares of company stock valued at $11,355,358 over the last quarter. 11.30% of the stock is currently owned by company insiders.
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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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