JPMorgan Chase & Co. Lowers NVR (NYSE:NVR) Price Target to $9,245.00

NVR (NYSE:NVR) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $9,820.00 to $9,245.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 5.10% from the stock’s previous close.

Several other research firms have also recently commented on NVR. Bank of America reduced their target price on NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group increased their target price on NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Seaport Res Ptn lowered 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9,765.00.

NVR Price Performance

Shares of NYSE NVR opened at $8,796.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.54 and a current ratio of 6.21. NVR has a fifty-two week low of $6,521.06 and a fifty-two week high of $9,964.77. The stock has a market cap of $26.92 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.18. The stock has a fifty day moving average of $9,268.62 and a 200-day moving average of $8,730.59.

NVR (NYSE:NVR) last posted its earnings results on Tuesday, October 22nd. The construction company reported $130.50 earnings per share for the quarter, missing analysts’ consensus estimates of $131.00 by ($0.50). NVR had a net margin of 16.51% and a return on equity of 38.20%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the previous year, the firm earned $125.26 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that NVR will post 494.48 earnings per share for the current year.

NVR declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other 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 transaction, the director now owns 239 shares in the company, valued at approximately $2,223,330.96. This trade represents a 51.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were 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 owns 208 shares of the company’s stock, valued at $1,965,600. This represents a 65.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 775 shares of company stock valued at $7,294,073 over the last three months. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On NVR

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of NVR by 1,100,012.1% during 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 acquiring an additional 363,004 shares in the last quarter. Smead Capital Management Inc. increased its position in NVR by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 36,218 shares of the construction company’s stock valued at $355,365,000 after purchasing an additional 1,223 shares during the period. Jennison Associates LLC bought a new position in NVR in the 3rd quarter worth $348,545,000. Marshfield Associates lifted its position in shares of NVR by 0.3% in the 2nd quarter. Marshfield Associates now owns 32,719 shares of the construction company’s stock worth $248,290,000 after purchasing an additional 96 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of NVR by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,199 shares of the construction company’s stock valued at $221,595,000 after purchasing an additional 906 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

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.