NVR (NYSE:NVR) Price Target Raised to $3,860.00
NVR (NYSE:NVR) had its target price boosted by Buckingham Research from $3,580.00 to $3,860.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Buckingham Research currently has a buy rating on the construction company’s stock.
Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co assumed coverage on shares of Deckers Outdoor in a research report on Tuesday, April 23rd. They set a market perform rating and a $163.00 price objective for the company. Evercore ISI assumed coverage on shares of Helmerich & Payne in a research report on Thursday, June 6th. They set an outperform rating for the company. Finally, Zacks Investment Research cut shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $3,359.86.
NVR stock opened at $3,468.68 on Tuesday. NVR has a 12-month low of $2,040.71 and a 12-month high of $3,509.01. The firm has a market capitalization of $12.46 billion, a PE ratio of 17.04, a P/E/G ratio of 1.63 and a beta of 0.66. The stock’s 50-day moving average price is $3,338.17. The company has a current ratio of 4.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31.
NVR announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In other NVR news, CEO Paul C. Saville sold 7,100 shares of NVR stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $3,298.44, for a total transaction of $23,418,924.00. Following the completion of the sale, the chief executive officer now directly owns 117,170 shares in the company, valued at $386,478,214.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexandra A. Jung purchased 70 shares of the company’s stock in a transaction on Monday, May 20th. The shares were bought at an average price of $3,285.00 per share, with a total value of $229,950.00. Following the completion of the transaction, the director now owns 95 shares of the company’s stock, valued at $312,075. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 25,320 shares of company stock valued at $83,126,269. Company insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NVR. FMR LLC increased its position in shares of NVR by 48.8% during the fourth quarter. FMR LLC now owns 187,402 shares of the construction company’s stock valued at $456,697,000 after acquiring an additional 61,448 shares during the last quarter. Norges Bank acquired a new position in shares of NVR in the fourth quarter valued at approximately $86,433,000. Timucuan Asset Management Inc. FL acquired a new position in shares of NVR in the fourth quarter valued at approximately $62,536,000. BlackRock Inc. grew its holdings in shares of NVR by 4.0% in the first quarter. BlackRock Inc. now owns 371,681 shares of the construction company’s stock valued at $1,028,440,000 after purchasing an additional 14,276 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of NVR by 698.8% in the first quarter. Marshall Wace North America L.P. now owns 15,258 shares of the construction company’s stock valued at $42,219,000 after purchasing an additional 13,348 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.
NVR Company Profile
NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers.
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