NVR (NYSE:NVR) Price Target Cut to $8,570.00 by Analysts at JPMorgan Chase & Co.

NVR (NYSE:NVR) had its target price decreased by JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.26% from the company’s previous close.

A number of other analysts have also recently issued reports on NVR. Bank of America decreased their target price on NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, UBS Group lowered their price target on NVR from $9,450.00 to $8,750.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, NVR currently has a consensus rating of “Hold” and an average target price of $9,356.67.

NVR Trading Up 2.2 %

NYSE NVR opened at $8,141.64 on Wednesday. The company has a 50-day moving average of $8,460.11 and a 200-day moving average of $8,881.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54. NVR has a 12 month low of $7,018.03 and a 12 month high of $9,964.77. The company has a market cap of $24.91 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.67 and a beta of 1.20.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, February 4th. The construction company reported $139.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $132.63 by $7.30. NVR had a net margin of 16.51% and a return on equity of 38.20%. As a group, equities analysts predict that NVR will post 494.48 earnings per share for the current year.

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

Insiders Place Their Bets

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now directly owns 208 shares of the company’s stock, valued at $1,965,600. This trade represents a 65.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Preiser sold 250 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total value of $2,325,660.00. Following the completion of 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. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NVR

Several large investors have recently made changes to their positions in the company. Public Sector Pension Investment Board grew its holdings in NVR by 52.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 110 shares of the construction company’s stock worth $835,000 after buying an additional 38 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of NVR by 298.9% during the second quarter. Squarepoint Ops LLC now owns 347 shares of the construction company’s stock valued at $2,633,000 after purchasing an additional 260 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in NVR by 24.4% in the second quarter. Susquehanna International Group LLP now owns 1,442 shares of the construction company’s stock worth $10,943,000 after purchasing an additional 283 shares during the period. Creative Planning grew its position in NVR by 2.3% in the 2nd quarter. Creative Planning now owns 892 shares of the construction company’s stock valued at $6,767,000 after buying an additional 20 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in NVR by 44.9% during the 2nd quarter. Cetera Investment Advisers now owns 284 shares of the construction company’s stock valued at $2,155,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

NVR Company 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.