JPMorgan Chase & Co. Lowers NVR (NYSE:NVR) Price Target to $9,245.00

NVR (NYSE:NVR) had its price objective dropped by JPMorgan Chase & Co. from $9,820.00 to $9,245.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 7.65% from the stock’s current price.

NVR has been the subject of several other reports. StockNews.com cut shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America lowered their price target on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Seaport Res Ptn cut NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9,765.00.

NVR Price Performance

NVR opened at $8,587.63 on Friday. The firm has a market capitalization of $26.28 billion, a P/E ratio of 17.56, a PEG ratio of 1.90 and a beta of 1.18. The stock has a fifty day moving average of $9,250.20 and a 200-day moving average of $8,748.37. 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 has a 12-month low of $6,768.02 and a 12-month high of $9,964.77.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (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 during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company posted $125.26 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Equities analysts forecast that NVR will post 494.48 EPS for the current fiscal year.

NVR announced that its board has initiated a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director David A. Preiser sold 250 shares of the firm’s 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 transaction, the director now directly owns 239 shares of the company’s stock, valued at approximately $2,223,330.96. This trade represents a 51.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew B. Kelpy sold 125 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $9,507.30, for a total value of $1,188,412.50. Following the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at $2,186,679. The trade was a 35.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 775 shares of company stock worth $7,294,073. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of NVR

A number of institutional investors and hedge funds have recently modified their holdings of NVR. Blue Trust Inc. acquired a new position in NVR in the 3rd quarter valued at $39,000. Assenagon Asset Management S.A. boosted its holdings in NVR by 3,377.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,504 shares of the construction company’s stock valued at $19,002,000 after acquiring an additional 2,432 shares during the period. Intech Investment Management LLC bought a new position in shares of NVR in the third quarter worth about $9,341,000. Swedbank AB lifted its position in shares of NVR by 8.7% during the 2nd quarter. Swedbank AB now owns 125 shares of the construction company’s stock worth $949,000 after purchasing an additional 10 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in NVR by 11.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,514 shares of the construction company’s stock valued at $24,667,000 after purchasing an additional 250 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.