Victory Capital Management Inc. Increases Stake in NVR, Inc. (NYSE:NVR)

Victory Capital Management Inc. lifted its stake in shares of NVR, Inc. (NYSE:NVR) by 59.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,452 shares of the construction company’s stock after buying an additional 3,878 shares during the quarter. Victory Capital Management Inc. owned approximately 0.35% of NVR worth $75,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of NVR by 838,726.3% during the 1st quarter. GAMMA Investing LLC now owns 159,377 shares of the construction company’s stock worth $1,154,589,000 after acquiring an additional 159,358 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in NVR by 116,808.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 57,285 shares of the construction company’s stock valued at $468,528,000 after purchasing an additional 57,236 shares in the last quarter. Norges Bank bought a new stake in NVR during the fourth quarter valued at $295,643,000. JPMorgan Chase & Co. raised its holdings in shares of NVR by 165.8% in the 4th quarter. JPMorgan Chase & Co. now owns 36,999 shares of the construction company’s stock worth $302,611,000 after acquiring an additional 23,079 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in NVR in the 4th quarter worth approximately $118,087,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

NVR Trading Up 1.0%

Shares of NVR stock opened at $7,447.87 on Friday. NVR, Inc. has a twelve month low of $6,562.85 and a twelve month high of $9,964.77. The firm has a market capitalization of $21.75 billion, a P/E ratio of 15.33, a P/E/G ratio of 4.02 and a beta of 0.99. The stock’s fifty day simple moving average is $7,294.08 and its 200 day simple moving average is $7,407.95. The company has a quick ratio of 3.02, a current ratio of 5.37 and a debt-to-equity ratio of 0.23.

NVR (NYSE:NVR) last posted its earnings results on Tuesday, April 22nd. The construction company reported $94.83 EPS for the quarter, missing analysts’ consensus estimates of $107.87 by ($13.04). NVR had a return on equity of 38.32% and a net margin of 15.33%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.35 billion. As a group, sell-side analysts predict that NVR, Inc. will post 505.2 EPS for the current fiscal year.

NVR announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 6th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NVR shares. Wall Street Zen downgraded shares of NVR from a “hold” rating to a “sell” rating in a research report on Monday, June 30th. UBS Group reduced their price target on shares of NVR from $8,900.00 to $7,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9,023.33.

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.