Teachers Retirement System of The State of Kentucky lowered its position in NVR, Inc. (NYSE:NVR) by 13.5% during the fourth quarter, HoldingsChannel reports. The firm owned 12,830 shares of the construction company’s stock after selling 1,995 shares during the quarter. NVR makes up approximately 0.5% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 29th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in NVR were worth $45,011,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of NVR during the 4th quarter worth about $133,000. Checchi Capital Advisers LLC bought a new stake in shares of NVR during the 4th quarter worth about $200,000. Commerce Bank bought a new stake in shares of NVR during the 4th quarter worth about $207,000. Assetmark Inc. bought a new stake in shares of NVR during the 4th quarter worth about $210,000. Finally, Greenleaf Trust boosted its stake in shares of NVR by 1,120.0% during the 4th quarter. Greenleaf Trust now owns 61 shares of the construction company’s stock worth $214,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 79.76% of the company’s stock.
In related news, Director Melquiades R. Martinez sold 47 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $3,000.00, for a total transaction of $141,000.00. Following the completion of the transaction, the director now owns 178 shares of the company’s stock, valued at approximately $534,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Grady Rosier sold 650 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $3,145.90, for a total value of $2,044,835.00. Following the transaction, the director now directly owns 1,862 shares of the company’s stock, valued at approximately $5,857,665.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,097 shares of company stock valued at $3,373,063 in the last three months. 11.30% of the stock is owned by insiders.
NVR (NYSE:NVR) last posted its quarterly earnings data on Thursday, January 25th. The construction company reported $43.41 earnings per share for the quarter, missing the consensus estimate of $48.95 by ($5.54). NVR had a return on equity of 38.72% and a net margin of 8.70%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $37.80 EPS. NVR’s revenue for the quarter was up 3.6% on a year-over-year basis. research analysts expect that NVR, Inc. will post 188.66 earnings per share for the current year.
NVR declared that its board has authorized a stock repurchase program on Tuesday, December 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts have recently issued reports on the company. UBS Group upped their price target on NVR from $3,450.00 to $3,750.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. ValuEngine upgraded NVR from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research upgraded NVR from a “hold” rating to a “buy” rating and set a $3,218.00 price target for the company in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $3,064.50.
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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