Panagora Asset Management Inc. Has $3.73 Million Holdings in NVR, Inc. (NYSE:NVR)
Panagora Asset Management Inc. reduced its stake in NVR, Inc. (NYSE:NVR) by 90.6% in Q2, owning only 491 shares after divesting 4,734 shares. Their holdings were valued at $726,000. Other institutional investors are actively buying and selling NVR shares as well. Recently, several insiders sold shares, contributing to a notable turnover. NVR traded at $1,172.46, with a reported EPS of $2.69, below estimates, and a revenue of $1.55 billion for Q2. The company has initiated a stock buyback program worth $300 million, indicating management's confidence in its stock value.
Panagora Asset Management Inc. trimmed its position in NVR, Inc. (NYSE:NVR - Free Report) by 90.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 491 shares of the construction company's stock after selling 4,734 shares during the quarter. Panagora Asset Management Inc.'s holdings in NVR were worth $3,726,000 at the end of the most recent reporting period.
- 3 Powerful Examples of Share Buybacks Boosting Stock Value
Several other hedge funds and other institutional investors have also recently bought and sold shares of NVR. Valued Wealth Advisors LLC increased its holdings in NVR by 100.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 4 shares of the construction company's stock valued at $32,000 after buying an additional 2 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of NVR during the 2nd quarter valued at about $53,000. USA Financial Formulas bought a new stake in NVR in the fourth quarter valued at about $63,000. Mather Group LLC. acquired a new position in NVR in the first quarter worth about $73,000. Finally, CWM LLC raised its position in NVR by 40.0% in the fourth quarter. CWM LLC now owns 14 shares of the construction company's stock worth $98,000 after purchasing an additional 4 shares in the last quarter. 83.67% of the stock is owned by institutional investors.
Insider Buying and Selling at NVR
In other news, CAO Matthew B. Kelpy sold 175 shares of the company's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $8,650.00, for a total value of $1,513,750.00. Following the sale, the chief accounting officer now owns 230 shares of the company's stock, valued at approximately $1,989,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Matthew B. Kelpy sold 175 shares of NVR stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $8,650.00, for a total value of $1,513,750.00. Following the completion of the transaction, the chief accounting officer now owns 230 shares in the company, valued at $1,989,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Williamson Ross sold 125 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $8,505.91, for a total value of $1,063,238.75. Following the sale, the director now owns 391 shares in the company, valued at $3,325,810.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 648 shares of company stock valued at $5,547,709. 7.00% of the stock is currently owned by company insiders.
NVR Price Performance
- Home prices expected to drop, but homebuilders remain strong
NYSE NVR traded up $125.46 during trading on Friday, reaching $9,172.46. 18,070 shares of the company traded hands, compared to its average volume of 19,438. NVR, Inc. has a 1-year low of $5,210.49 and a 1-year high of $9,360.00. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.25 and a beta of 1.17. The stock's 50 day moving average price is $8,300.57 and its two-hundred day moving average price is $7,878.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.32 and a current ratio of 5.84.
NVR (NYSE:NVR - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The construction company reported $120.69 EPS for the quarter, missing the consensus estimate of $121.65 by ($0.96). NVR had a return on equity of 38.51% and a net margin of 16.83%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.48 billion. As a group, analysts anticipate that NVR, Inc. will post 499.77 EPS for the current year.
- Housing Starts Up, Homebuilders Down as Mortgage Rates Soar
NVR declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.
About NVR
(Free Report)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.
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