UBS Group Cuts NVR (NYSE:NVR) Price Target to $8,750.00

NVR (NYSE:NVR - Get Free Report) had its price objective cut by UBS Group from $9,450.00 to $8,750.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. UBS Group's target price would suggest a potential upside of 9.57% from the stock's current price.

Several other brokerages also recently commented on NVR. StockNews.com downgraded shares of NVR from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America reduced their price objective on NVR from $10,800.00 to $10,600.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Seaport Res Ptn downgraded NVR from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of NVR from $9,820.00 to $9,245.00 and set a "neutral" rating on the stock in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, NVR has an average rating of "Hold" and a consensus target price of $9,531.67.

NVR Price Performance

NVR stock traded up $88.48 during mid-day trading on Wednesday, reaching $7,985.48. 29,320 shares of the company were exchanged, compared to its average volume of 29,824. The firm has a market cap of $24.47 billion, a PE ratio of 16.32, a PEG ratio of 1.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54. The company has a fifty day simple moving average of $8,785.34 and a 200-day simple moving average of $8,831.05. NVR has a 12 month low of $6,800.00 and a 12 month high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $130.50 EPS for the quarter, missing analysts' consensus estimates of $131.00 by ($0.50). NVR had a return on equity of 38.20% and a net margin of 16.51%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the business posted $125.26 EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that NVR will post 494.48 earnings per share for the current fiscal year.

NVR declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, Director David A. Preiser sold 250 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the completion of the transaction, the director now owns 239 shares in the company, valued at $2,223,330.96. This trade represents a 51.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the sale, the chief accounting officer now directly owns 208 shares in the company, valued at $1,965,600. The trade was a 65.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 775 shares of company stock valued at $7,294,073. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of NVR

Institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC acquired a new stake in shares of NVR in the second quarter valued at about $389,000. Royal London Asset Management Ltd. lifted its position in shares of NVR by 0.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,164 shares of the construction company's stock worth $16,422,000 after purchasing an additional 20 shares during the period. Andra AP fonden boosted its stake in shares of NVR by 19.0% in the 2nd quarter. Andra AP fonden now owns 1,940 shares of the construction company's stock valued at $14,722,000 after purchasing an additional 310 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of NVR by 2.3% during the second quarter. Daiwa Securities Group Inc. now owns 396 shares of the construction company's stock worth $3,005,000 after buying an additional 9 shares during the period. Finally, Headlands Technologies LLC raised its stake in NVR by 283.3% during the second quarter. Headlands Technologies LLC now owns 69 shares of the construction company's stock worth $524,000 after buying an additional 51 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.