ExodusPoint Capital Management LP Decreases Stake in NVR, Inc. (NYSE:NVR)

Posted by Defense World Staff on Sep 3rd, 2023

ExodusPoint Capital Management LP lowered its position in NVR, Inc. (NYSE:NVR – Free Report) by 77.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 312 shares of the construction company’s stock after selling 1,075 shares during the quarter. ExodusPoint Capital Management LP’s holdings in NVR were worth $1,739,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Schubert & Co increased its holdings in NVR by 66.7% in the 1st quarter. Schubert & Co now owns 5 shares of the construction company’s stock worth $28,000 after acquiring an additional 2 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in NVR by 50.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6 shares of the construction company’s stock worth $28,000 after purchasing an additional 2 shares during the period. Carderock Capital Management Inc. bought a new position in NVR in the 1st quarter worth about $39,000. Belpointe Asset Management LLC bought a new position in NVR in the 4th quarter worth about $46,000. Finally, MV Capital Management Inc. bought a new position in NVR in the 1st quarter worth about $72,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

NVR Stock Performance

NYSE:NVR opened at $6,509.35 on Friday. The business has a 50 day moving average of $6,254.63 and a 200 day moving average of $5,825.23. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.28 and a beta of 1.03. NVR, Inc. has a 1-year low of $3,816.55 and a 1-year high of $6,525.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 7.20 and a quick ratio of 4.43.

NVR (NYSE:NVR – Get Free Report) last released its earnings results on Tuesday, July 25th. The construction company reported $116.54 earnings per share for the quarter, topping analysts’ consensus estimates of $103.76 by $12.78. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.39 billion. NVR had a return on equity of 44.26% and a net margin of 16.44%. NVR’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $123.65 EPS. On average, sell-side analysts predict that NVR, Inc. will post 440.88 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has approved a share buyback program on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

NVR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on NVR in a research note on Wednesday, May 31st. They issued a “sell” rating and a $4,400.00 target price for the company. Seaport Res Ptn reiterated a “buy” rating on shares of NVR in a research report on Wednesday, June 14th. Bank of America lifted their price target on NVR from $6,500.00 to $7,200.00 in a research report on Wednesday, July 26th. Finally, StockNews.com downgraded NVR from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5,650.00.

Read Our Latest Stock Analysis on NVR

Insider Buying and Selling

In related news, Chairman Paul C. Saville sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $6,311.71, for a total value of $3,155,855.00. Following the completion of the sale, the chairman now owns 106,860 shares in the company, valued at approximately $674,469,330.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NVR news, Director Susan Williamson Ross sold 125 shares of NVR stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $6,300.00, for a total value of $787,500.00. Following the transaction, the director now directly owns 405 shares of the company’s stock, valued at approximately $2,551,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Paul C. Saville sold 500 shares of NVR stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $6,311.71, for a total value of $3,155,855.00. Following the completion of the transaction, the chairman now directly owns 106,860 shares in the company, valued at $674,469,330.60. The disclosure for this sale can be found here. Insiders sold 7,767 shares of company stock worth $49,139,940 in the last quarter. 8.60% of the stock is owned by insiders.

NVR Company Profile

(Free Report)

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.