Synovus Financial Corp Cuts Stock Position in NVR, Inc. (NYSE:NVR)

Synovus Financial Corp trimmed its holdings in shares of NVR, Inc. (NYSE:NVR) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245 shares of the construction company’s stock after selling 6 shares during the period. Synovus Financial Corp’s holdings in NVR were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NVR. International Assets Investment Management LLC boosted its position in shares of NVR by 1,100,012.1% in the third quarter. International Assets Investment Management LLC now owns 363,037 shares of the construction company’s stock worth $3,562,046,000 after buying an additional 363,004 shares during the period. Smead Capital Management Inc. lifted its position in NVR by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 36,218 shares of the construction company’s stock worth $355,365,000 after acquiring an additional 1,223 shares in the last quarter. Jennison Associates LLC purchased a new position in NVR in the 3rd quarter worth approximately $348,545,000. Marshfield Associates grew its position in NVR by 0.3% in the second quarter. Marshfield Associates now owns 32,719 shares of the construction company’s stock valued at $248,290,000 after acquiring an additional 96 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of NVR by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,199 shares of the construction company’s stock valued at $221,595,000 after purchasing an additional 906 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David A. Preiser sold 250 shares of NVR stock in a transaction dated Friday, November 8th. The shares were 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 approximately $2,223,330.96. The trade was a 51.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $9,450.00, for a total transaction of $3,780,000.00. Following the sale, the chief accounting officer now owns 208 shares in the company, valued at approximately $1,965,600. This trade represents a 65.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 775 shares of company stock worth $7,294,073. 7.00% of the stock is currently owned by insiders.

NVR Price Performance

NVR opened at $8,587.63 on Monday. The company 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 company has a 50-day moving average of $9,250.20 and a 200-day moving average of $8,758.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.54 and a current ratio of 6.21. NVR, Inc. has a 1-year low of $6,768.02 and a 1-year 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 for the quarter, missing the consensus estimate of $131.00 by ($0.50). NVR had a net margin of 16.51% and a return on equity of 38.20%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm earned $125.26 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts expect that NVR, Inc. will post 494.48 EPS for the current fiscal year.

NVR announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVR. JPMorgan Chase & Co. decreased their target price on shares of NVR from $9,820.00 to $9,245.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com cut shares of NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group lifted their target price on NVR from $8,450.00 to $9,450.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Seaport Res Ptn downgraded NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Bank of America dropped their price objective on NVR from $10,800.00 to $10,600.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9,765.00.

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.