M&T Bank Corp Decreases Stock Holdings in NVR, Inc. (NYSE:NVR)

M&T Bank Corp decreased its holdings in shares of NVR, Inc. (NYSE:NVR) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320 shares of the construction company’s stock after selling 29 shares during the period. M&T Bank Corp’s holdings in NVR were worth $3,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NVR. Massmutual Trust Co. FSB ADV boosted its holdings in NVR by 100.0% in the third 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 in the last quarter. Blue Trust Inc. purchased a new position in shares of NVR during the third quarter valued at about $39,000. Rakuten Securities Inc. bought a new position in NVR in the third quarter worth about $39,000. Redwood Wealth Management Group LLC purchased a new stake in NVR in the second quarter worth about $46,000. Finally, Private Trust Co. NA grew its holdings in shares of NVR by 66.7% during the 3rd quarter. Private Trust Co. NA now owns 5 shares of the construction company’s stock worth $49,000 after acquiring an additional 2 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

NVR has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on NVR from $9,820.00 to $9,245.00 and set a “neutral” rating on the stock in a research note on Friday. Bank of America lowered their price target on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised their target price on shares of NVR from $8,450.00 to $9,450.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com lowered NVR from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn lowered shares of NVR from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9,765.00.

Insider Activity

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 208 shares in the company, valued at approximately $1,965,600. This trade represents a 65.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Preiser sold 250 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $9,302.64, for a total transaction of $2,325,660.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 775 shares of company stock valued at $7,294,073 in the last quarter. 7.00% of the stock is currently owned by insiders.

NVR Stock Performance

Shares of NVR stock opened at $8,594.06 on Friday. The firm has a market capitalization of $26.30 billion, a PE ratio of 17.57, a P/E/G ratio of 1.90 and a beta of 1.18. The company has a 50 day moving average price of $9,250.20 and a 200-day moving average price of $8,738.77. NVR, Inc. has a 52 week low of $6,768.02 and a 52 week high of $9,964.77. 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 (NYSE:NVR) last released its quarterly earnings results 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). The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. NVR had a net margin of 16.51% and a return on equity of 38.20%. NVR’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $125.26 earnings per share. As a group, equities research analysts expect that NVR, Inc. will post 494.48 earnings per share for the current year.

NVR declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.