Zacks Investment Research Lowers NVR, Inc. (NVR) to Hold
NVR, Inc. (NYSE:NVR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “NVR's shares have widely outperformed its industry in the past year. The company's robust performance is largely backed by its disciplined business model and focus on maximizing liquidity and minimizing risk. Unlike other homebuilders, NVR’s sole business is selling and building quality homes by typically acquiring finished building lots, without the risk of owning and developing land in a cyclical industry. NVR is also poised to gain traction in 2017 on the current positive housing scenario. Considering the recent movement in mortgage rates, affordability is still at escalated levels.”
Other research analysts have also recently issued research reports about the stock. MKM Partners reaffirmed a “neutral” rating on shares of NVR in a report on Tuesday, September 5th. ValuEngine raised shares of NVR from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $2,690.00 price objective (up previously from $2,485.00) on shares of NVR in a report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $2,672.00.
Shares of NVR (NYSE:NVR) traded down 0.44% during midday trading on Monday, reaching $2825.00. The company’s stock had a trading volume of 7,666 shares. NVR has a 12-month low of $1,478.04 and a 12-month high of $2,863.27. The stock has a 50-day moving average of $2,721.28 and a 200 day moving average of $2,383.89. The firm has a market capitalization of $10.57 billion, a P/E ratio of 22.35 and a beta of 0.66.
NVR (NYSE:NVR) last released 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 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 analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $22.01 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts predict that NVR will post $139.24 EPS for the current fiscal year.
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In other news, Director William Grady Rosier sold 1,250 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 1,212 shares of the company’s stock, valued at $3,236,609.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Martchek sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $2,669.90, for a total transaction of $2,669,900.00. Following the sale, the insider now directly owns 5,323 shares of the company’s stock, valued at approximately $14,211,877.70. The disclosure for this sale can be found here. Insiders sold 4,240 shares of company stock valued at $11,355,358 in the last ninety days. 11.30% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of NVR by 8.7% during the second quarter. BlackRock Inc. now owns 379,835 shares of the construction company’s stock worth $915,632,000 after purchasing an additional 30,517 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NVR by 9.5% during the second quarter. Vanguard Group Inc. now owns 309,547 shares of the construction company’s stock worth $746,196,000 after purchasing an additional 26,827 shares in the last quarter. FMR LLC increased its stake in shares of NVR by 23.3% during the second quarter. FMR LLC now owns 150,964 shares of the construction company’s stock worth $363,915,000 after purchasing an additional 28,513 shares in the last quarter. State Street Corp increased its stake in shares of NVR by 17.7% during the second quarter. State Street Corp now owns 139,294 shares of the construction company’s stock worth $335,772,000 after purchasing an additional 20,928 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of NVR by 4.0% during the first quarter. Wellington Management Group LLP now owns 133,317 shares of the construction company’s stock worth $280,883,000 after purchasing an additional 5,142 shares in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.
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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