JPMorgan Chase & Co. Issues Pessimistic Forecast for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR) had its price target lowered by JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

NVR has been the topic of a number of other research reports. Bank of America cut their price objective on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group decreased their price objective on shares of NVR from $9,450.00 to $8,750.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Seaport Res Ptn cut NVR from a “strong-buy” rating to a “hold” rating in a research report 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9,356.67.

NVR Stock Down 1.7 %

NVR stock opened at $7,999.06 on Wednesday. The company’s 50 day moving average price is $8,439.94 and its 200 day moving average price is $8,880.95. The firm has a market capitalization of $24.48 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.34 and a beta of 1.20. NVR has a fifty-two week low of $7,018.03 and a fifty-two week high of $9,964.77. 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 (NYSE:NVR) last announced its quarterly earnings data on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, beating analysts’ consensus estimates of $132.63 by $7.30. NVR had a net margin of 16.34% and a return on equity of 39.58%. On average, equities research analysts anticipate that NVR will post 521.74 EPS for the current fiscal year.

NVR declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the completion of the sale, the chief accounting officer now owns 208 shares in the company, valued at $1,965,600. This represents a 65.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Preiser sold 250 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the sale, the director now directly owns 239 shares of the company’s stock, valued at approximately $2,223,330.96. This represents a 51.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVR. International Assets Investment Management LLC boosted its holdings in NVR by 1,100,012.1% in the 3rd quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock valued at $3,562,046,000 after purchasing an additional 363,004 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of NVR by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 53,538 shares of the construction company’s stock valued at $437,882,000 after buying an additional 1,549 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of NVR by 5.7% in the fourth quarter. Jennison Associates LLC now owns 37,550 shares of the construction company’s stock valued at $307,118,000 after buying an additional 2,027 shares in the last quarter. Smead Capital Management Inc. grew its holdings in NVR by 3.5% during the third quarter. Smead Capital Management Inc. now owns 36,218 shares of the construction company’s stock worth $355,365,000 after acquiring an additional 1,223 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NVR by 8.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,282 shares of the construction company’s stock worth $267,686,000 after acquiring an additional 2,045 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.