NVR (NYSE:NVR) Price Target Raised to $3,860.00

NVR (NYSE:NVR) had its target price boosted by Buckingham Research from $3,580.00 to $3,860.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the construction company’s stock.

NVR has been the subject of several other research reports. Wells Fargo & Co assumed coverage on shares of Deckers Outdoor in a research report on Tuesday, April 23rd. They issued a market perform rating and a $163.00 price objective for the company. Evercore ISI assumed coverage on shares of Helmerich & Payne in a research report on Thursday, June 6th. They issued an outperform rating for the company. Finally, Zacks Investment Research downgraded shares of HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $3,359.86.

NVR opened at $3,489.63 on Tuesday. The business’s 50 day simple moving average is $3,343.75. The firm has a market cap of $12.53 billion, a P/E ratio of 17.91, a PEG ratio of 1.63 and a beta of 0.66. NVR has a 1 year low of $2,040.71 and a 1 year high of $3,528.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 4.04.



NVR (NYSE:NVR) last posted its earnings results on Monday, April 22nd. The construction company reported $47.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $34.45 by $13.19. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.48 billion. NVR had a net margin of 11.45% and a return on equity of 46.85%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $39.34 EPS. On average, analysts expect that NVR will post 198.36 EPS for the current year.

NVR announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Manuel H. Johnson sold 300 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $3,183.56, for a total transaction of $955,068.00. Following the completion of the transaction, the director now directly owns 2,003 shares in the company, valued at approximately $6,376,670.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexandra A. Jung bought 70 shares of NVR stock in a transaction dated Monday, May 20th. The shares were acquired at an average price of $3,285.00 per share, with a total value of $229,950.00. Following the completion of the purchase, the director now owns 95 shares in the company, valued at approximately $312,075. The disclosure for this purchase can be found here. Insiders sold 25,320 shares of company stock valued at $83,126,269 in the last ninety days. 11.10% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NVR. FMR LLC boosted its stake in shares of NVR by 48.8% during the 4th quarter. FMR LLC now owns 187,402 shares of the construction company’s stock valued at $456,697,000 after buying an additional 61,448 shares during the last quarter. Norges Bank purchased a new position in shares of NVR during the 4th quarter valued at approximately $86,433,000. Timucuan Asset Management Inc. FL purchased a new position in shares of NVR during the 4th quarter valued at approximately $62,536,000. BlackRock Inc. boosted its stake in shares of NVR by 4.0% during the 1st quarter. BlackRock Inc. now owns 371,681 shares of the construction company’s stock valued at $1,028,440,000 after buying an additional 14,276 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its stake in NVR by 698.8% during the first quarter. Marshall Wace North America L.P. now owns 15,258 shares of the construction company’s stock worth $42,219,000 after purchasing an additional 13,348 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

About NVR

NVR, Inc operates as a homebuilder in the United States. 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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Analyst Recommendations for NVR (NYSE:NVR)

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