Covey Capital Advisors LLC Sells 12 Shares of NVR, Inc. (NYSE:NVR)

Covey Capital Advisors LLC lowered its stake in NVR, Inc. (NYSE:NVR) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137 shares of the construction company’s stock after selling 12 shares during the quarter. NVR accounts for approximately 1.3% of Covey Capital Advisors LLC’s portfolio, making the stock its 18th largest position. Covey Capital Advisors LLC’s holdings in NVR were worth $1,121,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. acquired a new stake in NVR in the 3rd quarter valued at $39,000. Peak Financial Advisors LLC bought a new stake in shares of NVR during the 4th quarter worth $1,235,000. JPMorgan Chase & Co. raised its stake in shares of NVR by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,920 shares of the construction company’s stock worth $136,580,000 after purchasing an additional 2,206 shares during the period. Intech Investment Management LLC bought a new stake in NVR in the 3rd quarter valued at about $9,341,000. Finally, Brown Brothers Harriman & Co. raised its stake in NVR by 11.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,514 shares of the construction company’s stock valued at $24,667,000 after acquiring an additional 250 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity at NVR

In other NVR news, Director Thomas D. Eckert sold 143 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $7,515.60, for a total value of $1,074,730.80. Following the completion of the transaction, the director now owns 1,050 shares in the company, valued at approximately $7,891,380. This represents a 11.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVR. StockNews.com cut NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. JPMorgan Chase & Co. cut their price objective on NVR from $9,245.00 to $8,570.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group upped their target price on NVR from $8,750.00 to $8,900.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9,356.67.

NVR Stock Performance

NYSE:NVR opened at $7,248.58 on Friday. The firm has a market cap of $21.67 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 2.33 and a beta of 1.20. NVR, Inc. has a fifty-two week low of $7,073.38 and a fifty-two week high of $9,964.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.69 and a current ratio of 6.18. The business has a 50 day moving average price of $7,989.86 and a 200-day moving average price of $8,778.62.

NVR (NYSE:NVR) last announced its earnings results 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 return on equity of 39.67% and a net margin of 16.34%. Equities research analysts predict that NVR, Inc. will post 512.33 earnings per share for the current year.

NVR declared that its board has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

NVR 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.