Connor Clark & Lunn Investment Management Ltd. Has $6.81 Million Stock Position in NVR, Inc. (NYSE:NVR)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of NVR, Inc. (NYSE:NVR) by 78.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 694 shares of the construction company’s stock after selling 2,529 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVR were worth $6,809,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVR. International Assets Investment Management LLC raised its stake in NVR by 1,100,012.1% during 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 during the period. Smead Capital Management Inc. raised its position in NVR by 3.5% during the third quarter. Smead Capital Management Inc. now owns 36,218 shares of the construction company’s stock valued at $355,365,000 after buying an additional 1,223 shares during the period. Jennison Associates LLC purchased a new stake in NVR in the 3rd quarter worth about $348,545,000. Marshfield Associates boosted its position in NVR by 0.3% during the 2nd quarter. Marshfield Associates now owns 32,719 shares of the construction company’s stock worth $248,290,000 after acquiring an additional 96 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in NVR by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,199 shares of the construction company’s stock valued at $221,595,000 after acquiring an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at NVR

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of the 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 transaction, the chief accounting officer now owns 208 shares in the company, valued at $1,965,600. This trade represents a 65.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Preiser sold 250 shares of the company’s stock in a transaction 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 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. In the last ninety days, insiders have sold 775 shares of company stock valued at $7,294,073. Corporate insiders own 7.00% of the company’s stock.

NVR Stock Performance

NVR stock opened at $9,007.24 on Friday. The firm has a 50 day moving average of $9,422.94 and a two-hundred day moving average of $8,587.74. NVR, Inc. has a 12 month low of $6,052.58 and a 12 month high of $9,964.77. The company 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. The company has a quick ratio of 3.54, a current ratio of 6.21 and a debt-to-equity ratio of 0.21.

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

Analysts Set New Price Targets

Several research firms recently commented on NVR. Bank of America decreased their price target 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. UBS Group lifted their target price on shares of NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, StockNews.com cut NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.