Wells Fargo & Co Analysts Give NVR (NVR) a $3,500.00 Price Target

NVR (NYSE:NVR) has been assigned a $3,500.00 price objective by equities research analysts at Wells Fargo & Co in a report released on Tuesday, April 23rd, The Fly reports. The firm currently has a “market perform” rating on the construction company’s stock. Wells Fargo & Co‘s target price indicates a potential upside of 5.42% from the company’s previous close.

NVR has been the subject of a number of other reports. Zacks Investment Research lowered NVR from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Buckingham Research began coverage on NVR in a report on Friday, January 11th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3,251.17.

NVR stock traded down $24.65 during midday trading on Tuesday, hitting $3,320.00. 18,184 shares of the company’s stock were exchanged, compared to its average volume of 27,037. NVR has a 1-year low of $2,040.71 and a 1-year high of $3,381.98. The company has a quick ratio of 2.03, a current ratio of 4.04 and a debt-to-equity ratio of 0.31. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72.

NVR (NYSE:NVR) last issued its quarterly earnings data on Monday, April 22nd. The construction company reported $47.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $34.45 by $13.19. NVR had a return on equity of 46.85% and a net margin of 11.45%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $39.34 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that NVR will post 198.36 EPS for the current year.

NVR declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, VP Matthew B. Kelpy purchased 25 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average price of $2,668.58 per share, for a total transaction of $66,714.50. Following the transaction, the vice president now directly owns 125 shares of the company’s stock, valued at approximately $333,572.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight C. Schar sold 9,985 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $2,622.86, for a total value of $26,189,257.10. The disclosure for this sale can be found here. Insiders sold a total of 27,305 shares of company stock worth $81,761,224 in the last 90 days. 11.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVR. Howe & Rusling Inc. purchased a new stake in shares of NVR during the 1st quarter worth approximately $47,000. Lindbrook Capital LLC purchased a new stake in shares of NVR during the 4th quarter worth approximately $53,000. Rockefeller Capital Management L.P. boosted its stake in shares of NVR by 375.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 19 shares of the construction company’s stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of NVR during the 1st quarter worth approximately $66,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of NVR during the 1st quarter worth approximately $69,000. Institutional investors own 80.05% of the company’s stock.

About NVR

NVR, Inc operates as a homebuilder in the United States. It primarily constructs and sells 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.

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