Dock Street Asset Management Inc. Grows Stake in NVR, Inc. (NYSE:NVR)

Dock Street Asset Management Inc. boosted its position in NVR, Inc. (NYSE:NVR) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,185 shares of the construction company’s stock after buying an additional 2 shares during the period. NVR accounts for about 2.4% of Dock Street Asset Management Inc.’s holdings, making the stock its 17th largest holding. Dock Street Asset Management Inc.’s holdings in NVR were worth $15,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NVR. International Assets Investment Management LLC increased its stake in NVR by 626,255.3% in the 4th quarter. International Assets Investment Management LLC now owns 238,015 shares of the construction company’s stock valued at $1,666,212,000 after purchasing an additional 237,977 shares in the last quarter. Norges Bank purchased a new position in NVR in the 4th quarter valued at approximately $138,433,000. Artisan Partners Limited Partnership purchased a new position in NVR in the 3rd quarter valued at approximately $62,370,000. AQR Capital Management LLC increased its stake in NVR by 91.9% in the 1st quarter. AQR Capital Management LLC now owns 17,131 shares of the construction company’s stock valued at $92,948,000 after purchasing an additional 8,202 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in NVR by 2.1% during the third quarter. Vanguard Group Inc. now owns 358,402 shares of the construction company’s stock worth $2,137,259,000 after buying an additional 7,516 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Matthew B. Kelpy sold 100 shares of NVR stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $7,615.00, for a total value of $761,500.00. Following the completion of the sale, the chief accounting officer now owns 230 shares of the company’s stock, valued at $1,751,450. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Paul C. Saville sold 250 shares of NVR stock in a transaction on Monday, February 26th. The stock was sold at an average price of $7,611.03, for a total value of $1,902,757.50. Following the completion of the sale, the chairman now owns 106,860 shares of the company’s stock, valued at $813,314,665.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew B. Kelpy sold 100 shares of NVR stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $7,615.00, for a total value of $761,500.00. Following the completion of the sale, the chief accounting officer now directly owns 230 shares of the company’s stock, valued at approximately $1,751,450. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock valued at $59,155,947 over the last quarter. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded NVR from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th.

NVR Price Performance

NVR stock traded up $150.06 during mid-day trading on Thursday, hitting $7,820.00. 6,414 shares of the company were exchanged, compared to its average volume of 18,709. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.10 and a quick ratio of 3.90. The business’s 50 day simple moving average is $7,704.09 and its two-hundred day simple moving average is $6,897.66. The company has a market capitalization of $25.02 billion, a P/E ratio of 16.56, a PEG ratio of 2.79 and a beta of 1.13. NVR, Inc. has a 12-month low of $5,210.49 and a 12-month high of $8,211.40.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $121.56 EPS for the quarter, beating analysts’ consensus estimates of $121.50 by $0.06. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.61 billion. NVR had a return on equity of 38.50% and a net margin of 17.09%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $133.44 earnings per share. Analysts forecast that NVR, Inc. will post 497.8 earnings per share for the current fiscal year.

NVR declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 14th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.