Penobscot Investment Management Company Inc. Takes $210,000 Position in NVR, Inc. (NYSE:NVR)

Penobscot Investment Management Company Inc. acquired a new position in NVR, Inc. (NYSE:NVR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30 shares of the construction company’s stock, valued at approximately $210,000.

A number of other hedge funds have also recently added to or reduced their stakes in NVR. Vanguard Group Inc. boosted its position in NVR by 2.1% during the third quarter. Vanguard Group Inc. now owns 358,402 shares of the construction company’s stock worth $2,137,259,000 after purchasing an additional 7,516 shares during the period. International Assets Investment Management LLC grew its stake in NVR by 626,255.3% in the 4th quarter. International Assets Investment Management LLC now owns 238,015 shares of the construction company’s stock valued at $1,666,212,000 after buying an additional 237,977 shares during the last quarter. Invesco Ltd. raised its holdings in NVR by 11.2% in the 3rd quarter. Invesco Ltd. now owns 44,319 shares of the construction company’s stock worth $264,287,000 after acquiring an additional 4,468 shares during the period. Smead Capital Management Inc. lifted its position in NVR by 0.7% during the 4th quarter. Smead Capital Management Inc. now owns 39,481 shares of the construction company’s stock worth $276,385,000 after acquiring an additional 277 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in NVR by 11.4% during the third quarter. Northern Trust Corp now owns 38,518 shares of the construction company’s stock valued at $229,694,000 after acquiring an additional 3,943 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Stock Performance

NYSE NVR opened at $7,452.50 on Thursday. NVR, Inc. has a 52-week low of $5,210.49 and a 52-week high of $8,211.40. The firm has a market capitalization of $23.62 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 3.09 and a beta of 1.13. The company’s fifty day moving average is $7,745.35 and its two-hundred day moving average is $7,010.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.52 and a quick ratio of 3.97.

NVR (NYSE:NVR) last announced its quarterly earnings results on Tuesday, April 23rd. The construction company reported $116.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $103.97 by $12.44. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. NVR had a net margin of 17.33% and a return on equity of 38.54%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $99.89 EPS. Equities research analysts forecast that NVR, Inc. will post 494.66 EPS for the current year.

NVR announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 14th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on NVR from $7,600.00 to $8,175.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com raised NVR from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th.

Insiders Place Their Bets

In related news, CAO Matthew B. Kelpy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $7,325.00, for a total transaction of $1,465,000.00. Following the completion of the transaction, the chief accounting officer now owns 230 shares in the company, valued at approximately $1,684,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Matthew B. Kelpy sold 100 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $7,615.00, for a total value of $761,500.00. Following the transaction, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at approximately $1,751,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew B. Kelpy sold 200 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $7,325.00, for a total value of $1,465,000.00. Following the sale, the chief accounting officer now owns 230 shares in the company, valued at $1,684,750. The disclosure for this sale can be found here. Insiders sold a total of 8,481 shares of company stock worth $62,949,052 over the last quarter. Company insiders own 7.00% of the company’s stock.

NVR Profile

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.