Millennium Management LLC Trims Stake in NVR, Inc. (NYSE:NVR)

Millennium Management LLC reduced its stake in shares of NVR, Inc. (NYSE:NVR) by 37.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,815 shares of the construction company’s stock after selling 1,659 shares during the quarter. Millennium Management LLC’s holdings in NVR were worth $23,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of NVR by 150.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5 shares of the construction company’s stock worth $41,000 after acquiring an additional 3 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of NVR by 75.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 7 shares of the construction company’s stock worth $57,000 after acquiring an additional 3 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of NVR by 60.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 8 shares of the construction company’s stock worth $65,000 after acquiring an additional 3 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of NVR by 122.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 20 shares of the construction company’s stock worth $164,000 after acquiring an additional 11 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in NVR by 11.1% in the 4th quarter. Quadrant Capital Group LLC now owns 20 shares of the construction company’s stock valued at $164,000 after buying an additional 2 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVR. JPMorgan Chase & Co. decreased their price target on shares of NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. UBS Group decreased their target price on shares of NVR from $8,900.00 to $7,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9,023.33.

NVR Stock Down 1.5%

NVR stock opened at $7,206.25 on Wednesday. The firm has a market cap of $21.07 billion, a PE ratio of 14.20, a PEG ratio of 2.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.69 and a current ratio of 6.18. The firm’s 50 day moving average price is $7,171.96 and its 200-day moving average price is $7,856.12. NVR, Inc. has a one year low of $6,562.85 and a one year high of $9,964.77.

NVR (NYSE:NVR) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $94.83 EPS for the quarter, missing the consensus estimate of $107.87 by ($13.04). The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.35 billion. NVR had a net margin of 16.34% and a return on equity of 39.67%. On average, equities research analysts anticipate that NVR, Inc. will post 505.2 EPS for the current year.

NVR announced that its board has approved a stock buyback plan on Tuesday, May 6th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

NVR Profile

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.