JPMorgan Chase & Co. Trims NVR (NYSE:NVR) Target Price to $5,770.00

NVR (NYSE:NVR) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $6,300.00 to $5,770.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.28% from the stock’s previous close.

Separately, Zacks Investment Research cut NVR from a “buy” rating to a “hold” rating and set a $5,217.00 target price for the company. in a research note on Tuesday, September 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, NVR presently has a consensus rating of “Buy” and an average price target of $5,399.00.

NVR stock traded up $46.28 during mid-day trading on Thursday, reaching $4,920.00. The company’s stock had a trading volume of 65 shares, compared to its average volume of 20,919. The stock has a market cap of $17.54 billion, a PE ratio of 16.94 and a beta of 1.02. The company has a current ratio of 5.89, a quick ratio of 3.57 and a debt-to-equity ratio of 0.50. NVR has a fifty-two week low of $3,868.01 and a fifty-two week high of $5,332.08. The company’s 50 day moving average is $5,045.75 and its two-hundred day moving average is $4,955.05.

NVR (NYSE:NVR) last released its quarterly earnings data on Tuesday, July 20th. The construction company reported $82.45 EPS for the quarter, beating the Zacks’ consensus estimate of $72.43 by $10.02. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. NVR had a net margin of 13.51% and a return on equity of 37.37%. NVR’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $42.50 EPS. On average, analysts forecast that NVR will post 348.1 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other NVR news, insider Eugene James Bredow sold 92 shares of NVR stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $5,260.00, for a total value of $483,920.00. Following the transaction, the insider now owns 918 shares in the company, valued at $4,828,680. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Manuel H. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $5,143.21, for a total transaction of $5,143,210.00. Following the transaction, the director now owns 1,400 shares in the company, valued at $7,200,494. The disclosure for this sale can be found here. Insiders sold a total of 1,392 shares of company stock worth $7,205,130 over the last ninety days. Corporate insiders own 9.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AltraVue Capital LLC lifted its position in shares of NVR by 25.3% during the second quarter. AltraVue Capital LLC now owns 2,430 shares of the construction company’s stock worth $12,085,000 after purchasing an additional 490 shares in the last quarter. Principal Financial Group Inc. raised its holdings in NVR by 0.6% in the second quarter. Principal Financial Group Inc. now owns 84,544 shares of the construction company’s stock worth $420,462,000 after purchasing an additional 544 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in NVR by 12.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,202 shares of the construction company’s stock worth $5,663,000 after purchasing an additional 130 shares during the period. Toronto Dominion Bank grew its position in NVR by 3.0% in the second quarter. Toronto Dominion Bank now owns 2,004 shares of the construction company’s stock valued at $9,966,000 after purchasing an additional 59 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in NVR by 70.2% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,722 shares of the construction company’s stock valued at $28,457,000 after purchasing an additional 2,360 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.

About NVR

NVR, Inc engages in the construction and sale of single-family detached homes, townhomes and condominium buildings. It operates through the following segments: Homebuilding and Mortgage Banking. The Homebuilding segment sells and builds homes under the trade names Ryan Homes, NVHomes, Fox Ridge Homes and Heartland Homes.

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