Smead Capital Management Inc. grew its holdings in shares of NVR, Inc. (NYSE:NVR) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,366 shares of the construction company’s stock after purchasing an additional 468 shares during the period. NVR makes up approximately 5.5% of Smead Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Smead Capital Management Inc.’s holdings in NVR were worth $124,208,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. grew its holdings in NVR by 8.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 106,803 shares of the construction company’s stock worth $435,741,000 after acquiring an additional 8,606 shares during the period. Egerton Capital UK LLP grew its holdings in NVR by 189.4% during the fourth quarter. Egerton Capital UK LLP now owns 56,278 shares of the construction company’s stock worth $229,606,000 after acquiring an additional 36,831 shares during the period. Norges Bank acquired a new position in NVR during the fourth quarter worth about $150,865,000. Bank of New York Mellon Corp grew its holdings in NVR by 3.1% during the fourth quarter. Bank of New York Mellon Corp now owns 34,441 shares of the construction company’s stock worth $140,515,000 after acquiring an additional 1,046 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in NVR by 120.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,338 shares of the construction company’s stock worth $123,775,000 after acquiring an additional 16,545 shares during the period. 82.07% of the stock is currently owned by institutional investors.
NVR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded NVR from a “hold” rating to a “buy” rating and set a $5,068.00 price target for the company in a research report on Friday, April 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $5,290.00 price target on shares of NVR in a research report on Wednesday, March 17th. Wolfe Research initiated coverage on NVR in a research report on Monday, March 22nd. They issued a “peer perform” rating for the company. Wells Fargo & Company initiated coverage on NVR in a research report on Wednesday, April 21st. They issued an “equal weight” rating and a $5,000.00 price target for the company. Finally, KeyCorp initiated coverage on NVR in a research report on Monday, March 1st. They issued an “overweight” rating and a $5,450.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $5,273.20.
NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, April 20th. The construction company reported $63.21 EPS for the quarter, topping the Zacks’ consensus estimate of $63.01 by $0.20. NVR had a return on equity of 33.14% and a net margin of 12.16%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $44.96 EPS. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. Research analysts anticipate that NVR, Inc. will post 229.39 EPS for the current year.
NVR announced that its Board of Directors has approved a share buyback program on Wednesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
NVR, Inc operates as a homebuilder in the United States. The company operates in two segments, Homebuilding and Mortgage Banking. It primarily constructs and sells 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.
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