JPMorgan Chase & Co. Acquires 2,206 Shares of NVR, Inc. (NYSE:NVR)

JPMorgan Chase & Co. lifted its holdings in shares of NVR, Inc. (NYSE:NVR) by 18.8% in the third quarter, Holdings Channel.com reports. The fund owned 13,920 shares of the construction company’s stock after purchasing an additional 2,206 shares during the period. JPMorgan Chase & Co.’s holdings in NVR were worth $136,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVR. International Assets Investment Management LLC increased its position in NVR by 1,100,012.1% during the 3rd quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock valued at $3,562,046,000 after purchasing an additional 363,004 shares during the period. Jennison Associates LLC bought a new stake in shares of NVR during the 3rd quarter valued at about $348,545,000. Mizuho Securities USA LLC increased its position in shares of NVR by 6,454.8% during the third quarter. Mizuho Securities USA LLC now owns 16,518 shares of the construction company’s stock valued at $162,071,000 after buying an additional 16,266 shares during the period. TD Asset Management Inc raised its stake in NVR by 143.8% in the second quarter. TD Asset Management Inc now owns 24,020 shares of the construction company’s stock worth $182,277,000 after buying an additional 14,167 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in NVR by 56.0% in the second quarter. Epoch Investment Partners Inc. now owns 22,680 shares of the construction company’s stock worth $172,109,000 after buying an additional 8,140 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVR. UBS Group upped their price target on NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Seaport Res Ptn cut shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Bank of America lowered their target price on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9,765.00.

Insider Buying and Selling at NVR

In related news, CAO Matthew B. Kelpy sold 125 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $9,507.30, for a total transaction of $1,188,412.50. Following the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $2,186,679. This trade represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Preiser sold 250 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the completion of the transaction, the director now directly owns 239 shares of the company’s stock, valued at approximately $2,223,330.96. This trade represents a 51.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 775 shares of company stock worth $7,294,073. Insiders own 7.00% of the company’s stock.

NVR Stock Performance

Shares of NVR stock opened at $8,178.90 on Thursday. NVR, Inc. has a 1 year low of $6,800.00 and a 1 year high of $9,964.77. The firm’s 50-day moving average is $8,891.58 and its 200 day moving average is $8,811.10. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54.

NVR (NYSE:NVR) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $130.50 EPS for the quarter, missing analysts’ consensus estimates of $131.00 by ($0.50). NVR had a net margin of 16.51% and a return on equity of 38.20%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned $125.26 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that NVR, Inc. will post 494.48 EPS for the current fiscal year.

NVR declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About NVR

NVR, Inc operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of 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.