Northern Trust Corp lifted its holdings in shares of NVR, Inc. (NYSE:NVR) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 43,987 shares of the construction company’s stock after buying an additional 2,793 shares during the period. Northern Trust Corp’s holdings in NVR were worth $121,712,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Howe & Rusling Inc. purchased a new stake in shares of NVR during the first quarter worth approximately $47,000. Rockefeller Capital Management L.P. increased its position in shares of NVR by 375.0% during the first quarter. Rockefeller Capital Management L.P. now owns 19 shares of the construction company’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Lindbrook Capital LLC purchased a new stake in shares of NVR during the fourth quarter worth approximately $53,000. Penserra Capital Management LLC purchased a new stake in shares of NVR during the first quarter worth approximately $66,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of NVR during the first quarter worth approximately $69,000. Hedge funds and other institutional investors own 79.12% of the company’s stock.
Shares of NYSE:NVR opened at $3,395.81 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.04 and a quick ratio of 2.03. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.60 and a beta of 0.67. NVR, Inc. has a 52-week low of $2,040.71 and a 52-week high of $3,439.18.
NVR announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Several analysts recently commented on NVR shares. Buckingham Research boosted their price target on NVR from $3,030.00 to $3,410.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research upgraded NVR from a “hold” rating to a “strong-buy” rating and set a $3,547.00 price target for the company in a research report on Monday, April 22nd. Wells Fargo & Co set a $3,500.00 price target on NVR and gave the stock a “market perform” rating in a research report on Tuesday, April 23rd. Finally, Evercore ISI started coverage on NVR in a research report on Thursday, June 6th. They set an “in-line” rating and a $3,467.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $3,282.00.
In other NVR news, Director Manuel H. Johnson sold 300 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $3,183.56, for a total value of $955,068.00. Following the completion of the sale, the director now directly owns 2,003 shares in the company, valued at approximately $6,376,670.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey D. Martchek sold 500 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $3,180.04, for a total value of $1,590,020.00. Following the completion of the sale, the insider now owns 4,658 shares of the company’s stock, valued at $14,812,626.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,320 shares of company stock valued at $83,126,269. 11.10% of the stock is owned by company insiders.
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NVR Company Profile
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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