UBS Group Forecasts Strong Price Appreciation for NVR (NYSE:NVR) Stock

NVR (NYSE:NVR - Free Report) had its price objective raised by UBS Group from $8,750.00 to $8,900.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the construction company's stock.

Several other analysts also recently weighed in on NVR. Bank of America dropped their price target 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. JPMorgan Chase & Co. dropped their target price on NVR from $9,245.00 to $8,570.00 and set a "neutral" rating on the stock in a research report on Wednesday. StockNews.com lowered shares of NVR from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn cut shares of NVR from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, NVR has an average rating of "Hold" and a consensus target price of $9,356.67.

NVR Stock Performance

Shares of NVR stock traded up $176.63 during midday trading on Wednesday, hitting $8,141.64. The company had a trading volume of 22,062 shares, compared to its average volume of 28,324. The company has a fifty day simple moving average of $8,477.09 and a 200 day simple moving average of $8,886.61. The stock has a market cap of $24.91 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.67 and a beta of 1.20. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. NVR has a 12-month low of $7,018.03 and a 12-month high of $9,964.77.

NVR (NYSE:NVR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The construction company reported $139.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $132.63 by $7.30. NVR had a net margin of 16.51% and a return on equity of 38.20%. As a group, analysts predict that NVR will post 494.48 earnings per share for the current fiscal year.

NVR announced that its board has approved a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at NVR

In related news, Director David A. Preiser sold 250 shares of the company's stock in a transaction dated Friday, November 8th. The stock was 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 of the company's stock, valued at approximately $2,223,330.96. This represents a 51.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $9,450.00, for a total value of $3,780,000.00. Following the completion of the sale, the chief accounting officer now directly owns 208 shares in the company, valued at approximately $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. Corporate insiders own 7.00% of the company's stock.

Institutional Trading of NVR

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of NVR by 1,100,012.1% in the third quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company's stock valued at $3,562,046,000 after buying an additional 363,004 shares during the last quarter. Jennison Associates LLC acquired a new stake in NVR in the 3rd quarter valued at about $348,545,000. Mizuho Securities USA LLC lifted its stake in NVR by 6,454.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 16,518 shares of the construction company's stock worth $162,071,000 after purchasing an additional 16,266 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of NVR by 254.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,867 shares of the construction company's stock worth $87,001,000 after purchasing an additional 6,363 shares during the last quarter. Finally, KBC Group NV grew its position in shares of NVR by 299.9% in the third quarter. KBC Group NV now owns 5,622 shares of the construction company's stock valued at $55,162,000 after purchasing an additional 4,216 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

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.