Retirement Systems of Alabama Has $6.64 Million Stock Holdings in NVR, Inc. (NYSE:NVR)

Retirement Systems of Alabama decreased its stake in NVR, Inc. (NYSE:NVR) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 677 shares of the construction company’s stock after selling 15 shares during the quarter. Retirement Systems of Alabama’s holdings in NVR were worth $6,643,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Banque Pictet & Cie SA boosted its position in NVR by 9.7% during the second quarter. Banque Pictet & Cie SA now owns 1,530 shares of the construction company’s stock valued at $11,610,000 after purchasing an additional 135 shares during the last quarter. Crew Capital Management Ltd. lifted its holdings in shares of NVR by 21.5% during the 2nd quarter. Crew Capital Management Ltd. now owns 96 shares of the construction company’s stock valued at $729,000 after buying an additional 17 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of NVR by 0.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 314 shares of the construction company’s stock valued at $2,383,000 after buying an additional 2 shares in the last quarter. HB Wealth Management LLC increased its holdings in NVR by 6.7% in the second quarter. HB Wealth Management LLC now owns 48 shares of the construction company’s stock worth $364,000 after buying an additional 3 shares during the last quarter. Finally, Whittier Trust Co. raised its position in NVR by 62.9% during the second quarter. Whittier Trust Co. now owns 114 shares of the construction company’s stock valued at $865,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Stock Performance

Shares of NVR opened at $8,217.15 on Thursday. The company has a market capitalization of $25.14 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54. NVR, Inc. has a one year low of $6,800.00 and a one year high of $9,964.77. The company’s fifty day moving average price is $9,182.15 and its 200 day moving average price is $8,767.38.

NVR (NYSE:NVR) last posted its quarterly earnings data 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 business 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 firm posted $125.26 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts expect that NVR, Inc. will post 494.48 earnings per share for the current year.

NVR announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on NVR shares. Seaport Res Ptn downgraded shares of NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. UBS Group upped their price objective on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. StockNews.com cut NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America lowered their price objective on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, NVR currently has a consensus rating of “Hold” and an average price target of $9,765.00.

Insiders Place Their Bets

In other NVR news, CAO Matthew B. Kelpy sold 125 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $9,507.30, for a total value of $1,188,412.50. Following the completion of the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $2,186,679. This represents a 35.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Preiser sold 250 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the transaction, the director now owns 239 shares in the company, valued at approximately $2,223,330.96. The trade was a 51.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 775 shares of company stock valued at $7,294,073 in the last three months. Company insiders own 7.00% 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.