PNC Financial Services Group Inc. Trims Position in NVR, Inc. (NYSE:NVR)

PNC Financial Services Group Inc. reduced its position in shares of NVR, Inc. (NYSE:NVR) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,150 shares of the construction company’s stock after selling 74 shares during the period. PNC Financial Services Group Inc.’s holdings in NVR were worth $8,051,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Greenleaf Trust raised its holdings in NVR by 4.9% during the fourth quarter. Greenleaf Trust now owns 43 shares of the construction company’s stock worth $301,000 after purchasing an additional 2 shares in the last quarter. PYA Waltman Capital LLC increased its holdings in NVR by 0.5% in the fourth quarter. PYA Waltman Capital LLC now owns 424 shares of the construction company’s stock valued at $2,968,000 after buying an additional 2 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in NVR by 0.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 305 shares of the construction company’s stock valued at $2,135,000 after buying an additional 2 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in NVR by 0.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 214 shares of the construction company’s stock valued at $1,498,000 after buying an additional 2 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its holdings in NVR by 0.7% in the fourth quarter. Lakewood Asset Management LLC now owns 431 shares of the construction company’s stock valued at $3,017,000 after buying an additional 3 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVR shares. StockNews.com raised shares of NVR from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. UBS Group increased their target price on shares of NVR from $7,600.00 to $8,175.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th.

Insider Buying and Selling

In related news, Director David A. Preiser sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $7,586.21, for a total transaction of $3,793,105.00. Following the sale, the director now owns 239 shares in the company, valued at $1,813,104.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NVR news, Chairman Paul C. Saville sold 300 shares of NVR stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $7,670.42, for a total value of $2,301,126.00. Following the transaction, the chairman now owns 106,860 shares in the company, valued at approximately $819,661,081.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Preiser sold 500 shares of NVR stock in a transaction on Monday, April 29th. The shares were sold at an average price of $7,586.21, for a total transaction of $3,793,105.00. Following the completion of the transaction, the director now owns 239 shares in the company, valued at approximately $1,813,104.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,600 shares of company stock worth $12,233,609. 7.00% of the stock is owned by insiders.

NVR Stock Up 1.0 %

NVR stock opened at $7,680.34 on Tuesday. The company’s 50 day simple moving average is $7,623.67 and its 200-day simple moving average is $7,403.01. The firm has a market capitalization of $24.04 billion, a PE ratio of 16.01, a P/E/G ratio of 3.16 and a beta of 1.16. NVR, Inc. has a 12 month low of $5,210.49 and a 12 month high of $8,211.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.52 and a quick ratio of 3.97.

NVR (NYSE:NVR) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $116.41 EPS for the quarter, beating the consensus estimate of $103.97 by $12.44. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. NVR had a net margin of 17.33% and a return on equity of 38.54%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $99.89 earnings per share. Equities analysts expect that NVR, Inc. will post 493.93 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership 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.