CIBC Asset Management Inc Increases Stock Position in NVR, Inc. $NVR

CIBC Asset Management Inc increased its position in NVR, Inc. (NYSE:NVR) by 60.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 679 shares of the construction company’s stock after purchasing an additional 255 shares during the period. CIBC Asset Management Inc’s holdings in NVR were worth $4,952,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. purchased a new stake in NVR during the 4th quarter valued at $36,000. State of Wyoming purchased a new stake in NVR during the 2nd quarter valued at $44,000. USA Financial Formulas raised its stake in NVR by 75.0% during the 4th quarter. USA Financial Formulas now owns 7 shares of the construction company’s stock valued at $51,000 after buying an additional 3 shares during the last quarter. Clearstead Advisors LLC raised its stake in NVR by 75.0% during the 4th quarter. Clearstead Advisors LLC now owns 7 shares of the construction company’s stock valued at $51,000 after buying an additional 3 shares during the last quarter. Finally, Zions Bancorporation National Association UT raised its stake in NVR by 600.0% during the 3rd quarter. Zions Bancorporation National Association UT now owns 7 shares of the construction company’s stock valued at $56,000 after buying an additional 6 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NVR. Seaport Research Partners reiterated a “sell” rating and set a $5,664.00 target price on shares of NVR in a research note on Tuesday, April 7th. Bank of America decreased their target price on shares of NVR from $8,600.00 to $8,225.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Truist Financial decreased their target price on shares of NVR from $7,100.00 to $6,600.00 and set a “hold” rating for the company in a research note on Thursday, April 23rd. BTIG Research reissued a “buy” rating and set a $8,096.00 price objective on shares of NVR in a research report on Wednesday, April 22nd. Finally, UBS Group cut their price objective on shares of NVR from $8,100.00 to $7,700.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7,649.33.

NVR Trading Up 0.3%

Shares of NVR stock opened at $6,195.06 on Friday. NVR, Inc. has a 1 year low of $5,501.01 and a 1 year high of $8,618.28. The firm has a fifty day moving average price of $6,331.98 and a 200-day moving average price of $7,009.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.19 and a quick ratio of 2.67. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 4.55 and a beta of 0.93.

NVR (NYSE:NVR) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $67.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $79.97 by ($12.21). NVR had a net margin of 12.93% and a return on equity of 32.66%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm earned $94.83 EPS. The company’s revenue was down 21.7% on a year-over-year basis. As a group, equities analysts predict that NVR, Inc. will post 375.15 earnings per share for the current year.

NVR declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Michael J. Devito bought 11 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average price of $6,699.50 per share, with a total value of $73,694.50. Following the acquisition, the director owned 25 shares of the company’s stock, valued at approximately $167,487.50. This represents a 78.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

NVR Profile

NVR, Inc is a U.S.-based homebuilding and mortgage banking company that designs, constructs and sells single-family detached homes, townhomes and condominiums. The company operates primarily through its homebuilding business and a mortgage banking subsidiary, providing financing and related closing services to its homebuyers. NVR’s homebuilding activities include land development, community planning, model home sales and construction management aimed at a range of buyer demographics.

Its homes are marketed under recognizable regional brands, including Ryan Homes and NVHomes, along with other market-specific trade names, and are offered across multiple geographic markets in the United States.