Jennison Associates LLC Acquires 2,027 Shares of NVR, Inc. (NYSE:NVR)

Jennison Associates LLC lifted its stake in NVR, Inc. (NYSE:NVR) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,550 shares of the construction company’s stock after buying an additional 2,027 shares during the quarter. Jennison Associates LLC’s holdings in NVR were worth $307,118,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its holdings in NVR by 100.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4 shares of the construction company’s stock valued at $39,000 after acquiring an additional 2 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of NVR in the third quarter worth about $39,000. Rakuten Securities Inc. bought a new stake in shares of NVR in the third quarter worth about $39,000. Private Trust Co. NA lifted its position in shares of NVR by 66.7% in the third quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after buying an additional 2 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in NVR during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director David A. Preiser sold 250 shares of the firm’s 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 transaction, the director now owns 239 shares of the company’s stock, valued at $2,223,330.96. This trade represents a 51.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew B. Kelpy sold 400 shares of NVR stock in a transaction dated Tuesday, November 5th. The shares were 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 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. Insiders own 7.00% of the company’s stock.

NVR Price Performance

NVR stock opened at $7,999.06 on Monday. NVR, Inc. has a 12-month low of $7,018.03 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 firm has a 50-day moving average price of $8,439.94 and a 200-day moving average price of $8,887.64. The firm has a market capitalization of $24.48 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.60 and a beta of 1.20.

NVR (NYSE:NVR) last released its earnings results on Tuesday, February 4th. The construction company reported $139.93 EPS for the quarter, beating analysts’ consensus estimates of $132.63 by $7.30. NVR had a return on equity of 39.58% and a net margin of 16.34%. As a group, equities research analysts forecast that NVR, Inc. will post 512.33 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVR shares. UBS Group lifted their price objective on NVR from $8,750.00 to $8,900.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of NVR from $9,245.00 to $8,570.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered shares of NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America reduced their target price 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. Finally, Seaport Res Ptn lowered NVR from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, NVR presently has a consensus rating of “Hold” and an average price target of $9,356.67.

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.