Van ECK Associates Corp Cuts Stock Position in NVR, Inc. $NVR

Van ECK Associates Corp decreased its position in NVR, Inc. (NYSE:NVR) by 17.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554 shares of the construction company’s stock after selling 114 shares during the quarter. Van ECK Associates Corp’s holdings in NVR were worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NVR. BlackRock Inc. purchased a new position in shares of NVR during the second quarter worth approximately $2,004,324,000. Norges Bank purchased a new position in shares of NVR in the fourth quarter worth about $311,496,000. Corient Private Wealth LLC lifted its stake in shares of NVR by 407.5% in the 4th quarter. Corient Private Wealth LLC now owns 45,572 shares of the construction company’s stock valued at $332,346,000 after acquiring an additional 36,592 shares during the last quarter. Caisse de depot et placement du Quebec bought a new position in NVR during the 2nd quarter worth approximately $194,114,000. Finally, First Trust Advisors LP grew its position in NVR by 879.9% during the 1st quarter. First Trust Advisors LP now owns 24,418 shares of the construction company’s stock worth $160,911,000 after acquiring an additional 21,926 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

NVR Price Performance

Shares of NVR stock opened at $6,380.12 on Friday. The company has a quick ratio of 2.24, a current ratio of 5.28 and a debt-to-equity ratio of 0.27. The company has a market cap of $16.97 billion, a PE ratio of 16.55, a P/E/G ratio of 10.57 and a beta of 0.91. The business has a 50 day moving average of $6,427.61 and a 200 day moving average of $6,507.67. NVR, Inc. has a 52 week low of $5,501.01 and a 52 week high of $8,618.28.

NVR (NYSE:NVR) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $83.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $83.06. NVR had a net margin of 12.26% and a return on equity of 31.02%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business posted $108.54 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that NVR, Inc. will post 367.13 earnings per share for the current year.

Insider Transactions at NVR

In related news, Director George Oliver acquired 63 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $6,431.51 per share, for a total transaction of $405,185.13. Following the completion of the acquisition, the director directly owned 63 shares of the company’s stock, valued at approximately $405,185.13. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVR shares. Weiss Ratings upgraded NVR from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Truist Financial lowered their price target on shares of NVR from $6,600.00 to $6,400.00 and set a “hold” rating for the company in a report on Friday, July 24th. Bank of America dropped their price target on shares of NVR from $7,600.00 to $7,200.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Zacks Research raised shares of NVR from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, UBS Group decreased their price objective on shares of NVR from $7,700.00 to $7,400.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7,224.20.

About NVR

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.