Connor Clark & Lunn Investment Management Ltd. Sells 2,529 Shares of NVR, Inc. (NYSE:NVR)

Connor Clark & Lunn Investment Management Ltd. cut its stake in NVR, Inc. (NYSE:NVR) by 78.5% in the third quarter, Holdings Channel.com reports. The firm owned 694 shares of the construction company’s stock after selling 2,529 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVR were worth $6,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Drive Wealth Management LLC lifted its holdings in shares of NVR by 7.7% during the 2nd quarter. Drive Wealth Management LLC now owns 28 shares of the construction company’s stock worth $212,000 after acquiring an additional 2 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in NVR by 0.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 314 shares of the construction company’s stock valued at $2,383,000 after purchasing an additional 2 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of NVR by 8.7% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 25 shares of the construction company’s stock valued at $190,000 after purchasing an additional 2 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock worth $39,000 after buying an additional 2 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of NVR by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 17 shares of the construction company’s stock worth $167,000 after buying an additional 2 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

NVR Stock Performance

NVR stock opened at $9,007.24 on Friday. NVR, Inc. has a 12-month low of $6,052.58 and a 12-month high of $9,964.77. The stock has a 50-day simple moving average of $9,422.94 and a 200 day simple moving average of $8,587.74. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.92 and a beta of 1.20.

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

Insider Buying and Selling at NVR

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 208 shares in the company, valued at approximately $1,965,600. This represents a 65.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Preiser sold 250 shares of NVR stock in a transaction that occurred on 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 sale, the director now owns 239 shares of the company’s stock, valued at approximately $2,223,330.96. This represents a 51.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 775 shares of company stock worth $7,294,073. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Seaport Res Ptn cut NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. UBS Group increased their target price on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America dropped their price objective on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, NVR currently has an average rating of “Hold” and an average target price of $8,783.33.

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.