Kovitz Investment Group Partners LLC Sells 6 Shares of NVR, Inc. (NYSE:NVR)

Kovitz Investment Group Partners LLC trimmed its stake in shares of NVR, Inc. (NYSE:NVR) by 12.5% during the third quarter, HoldingsChannel.com reports. The firm owned 42 shares of the construction company’s stock after selling 6 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in NVR were worth $412,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock worth $39,000 after purchasing an additional 2 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of NVR in the 3rd quarter worth about $39,000. Rakuten Securities Inc. purchased a new position in shares of NVR in the 3rd quarter worth about $39,000. Redwood Wealth Management Group LLC purchased a new position in shares of NVR in the 2nd quarter worth about $46,000. Finally, Private Trust Co. NA boosted its holdings in shares of NVR by 66.7% in the 3rd quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after purchasing an additional 2 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at NVR

In other 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 value of $3,780,000.00. Following the completion of the transaction, the chief accounting officer now owns 208 shares of the company’s stock, valued at approximately $1,965,600. This represents a 65.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Preiser sold 250 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 239 shares of the company’s stock, valued at $2,223,330.96. This represents a 51.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 775 shares of company stock valued at $7,294,073. Corporate insiders own 7.00% of the company’s stock.

NVR Trading Down 0.6 %

Shares of NVR stock opened at $8,796.60 on Friday. NVR, Inc. has a 1-year low of $6,521.06 and a 1-year high of $9,964.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.21 and a quick ratio of 3.54. The business has a 50-day moving average of $9,268.62 and a 200 day moving average of $8,730.59. The stock has a market capitalization of $26.95 billion, a PE ratio of 17.98, a P/E/G ratio of 1.92 and a beta of 1.18.

NVR (NYSE:NVR) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the business posted $125.26 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVR, Inc. will post 494.48 earnings per share for the current year.

NVR declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVR. Bank of America cut their price objective 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. UBS Group increased their target price on NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Seaport Res Ptn cut 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 report on Thursday, November 7th.

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.