JPMorgan Chase & Co. Has Lowered Expectations for NVR (NYSE:NVR) Stock Price

NVR (NYSE:NVR) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $9,245.00 to $8,570.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 6.45% from the stock’s previous close.

Other analysts also recently issued research reports about the company. StockNews.com downgraded NVR from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America dropped their price target on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seaport Res Ptn downgraded NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, UBS Group dropped their price target on NVR from $9,450.00 to $8,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, NVR has an average rating of “Hold” and an average price target of $9,306.67.

NVR Stock Performance

Shares of NVR stock opened at $8,050.63 on Wednesday. The company has a market capitalization of $24.67 billion, a PE ratio of 16.46, a PEG ratio of 1.67 and a beta of 1.20. NVR has a 12 month low of $6,999.44 and a 12 month high of $9,964.77. The company has a current ratio of 6.21, a quick ratio of 3.54 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $8,497.43 and its 200 day simple moving average is $8,892.97.

NVR (NYSE:NVR) last issued its quarterly earnings data on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, topping the consensus estimate of $132.63 by $7.30. NVR had a return on equity of 38.20% and a net margin of 16.51%. On average, research analysts predict that NVR will post 494.48 EPS for the current year.

NVR declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director David A. Preiser sold 250 shares of the firm’s stock in a transaction dated 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 owns 239 shares in the company, valued at $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 available at the SEC website. Also, CAO Matthew B. Kelpy sold 400 shares of NVR stock in a transaction dated 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 transaction, the chief accounting officer now owns 208 shares of the company’s stock, valued at $1,965,600. The trade was a 65.79 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVR

A number of hedge funds and other institutional investors have recently bought and sold shares of NVR. Public Sector Pension Investment Board grew its holdings in NVR by 52.8% during the second quarter. Public Sector Pension Investment Board now owns 110 shares of the construction company’s stock worth $835,000 after purchasing an additional 38 shares during the period. Squarepoint Ops LLC grew its holdings in NVR by 298.9% during the second quarter. Squarepoint Ops LLC now owns 347 shares of the construction company’s stock worth $2,633,000 after purchasing an additional 260 shares during the period. Susquehanna International Group LLP grew its holdings in NVR by 24.4% during the second quarter. Susquehanna International Group LLP now owns 1,442 shares of the construction company’s stock worth $10,943,000 after purchasing an additional 283 shares during the period. Creative Planning grew its holdings in NVR by 2.3% during the second quarter. Creative Planning now owns 892 shares of the construction company’s stock worth $6,767,000 after purchasing an additional 20 shares during the period. Finally, Cetera Investment Advisers grew its holdings in NVR by 44.9% during the second quarter. Cetera Investment Advisers now owns 284 shares of the construction company’s stock worth $2,155,000 after purchasing an additional 88 shares during the period. Institutional investors own 83.67% of the company’s stock.

NVR Company 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.