Drive Wealth Management LLC Raises Holdings in NVR, Inc. (NYSE:NVR)

Drive Wealth Management LLC boosted its position in shares of NVR, Inc. (NYSE:NVR) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28 shares of the construction company’s stock after buying an additional 2 shares during the period. Drive Wealth Management LLC’s holdings in NVR were worth $212,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NVR. Norges Bank purchased a new position in shares of NVR in the 4th quarter worth $246,031,000. Acadian Asset Management LLC grew its position in NVR by 321.1% in the first quarter. Acadian Asset Management LLC now owns 14,371 shares of the construction company’s stock worth $116,389,000 after acquiring an additional 10,958 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in NVR by 98.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 17,469 shares of the construction company’s stock worth $141,498,000 after acquiring an additional 8,684 shares during the last quarter. Russell Investments Group Ltd. raised its position in NVR by 108.3% during the first quarter. Russell Investments Group Ltd. now owns 12,147 shares of the construction company’s stock valued at $98,215,000 after purchasing an additional 6,315 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in NVR by 27.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 13,343 shares of the construction company’s stock valued at $93,407,000 after purchasing an additional 2,884 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other NVR news, Director Alfred E. Festa sold 148 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8,585.95, for a total value of $1,270,720.60. Following the sale, the director now owns 173 shares in the company, valued at $1,485,369.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Alfred E. Festa sold 148 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $8,585.95, for a total value of $1,270,720.60. Following the transaction, the director now directly owns 173 shares in the company, valued at $1,485,369.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Williamson Ross sold 125 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $8,505.91, for a total transaction of $1,063,238.75. Following the completion of the transaction, the director now directly owns 391 shares in the company, valued at approximately $3,325,810.81. The disclosure for this sale can be found here. In the last three months, insiders sold 648 shares of company stock valued at $5,547,709. Insiders own 7.00% of the company’s stock.

NVR Price Performance

Shares of NVR stock opened at $9,172.46 on Monday. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.32 and a current ratio of 5.84. The stock has a 50 day moving average price of $8,331.24 and a 200-day moving average price of $7,896.22. NVR, Inc. has a one year low of $5,210.49 and a one year high of $9,360.00.

NVR (NYSE:NVR) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $120.69 earnings per share for the quarter, missing analysts’ consensus estimates of $121.65 by ($0.96). The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.48 billion. NVR had a return on equity of 38.51% and a net margin of 16.83%. Equities analysts expect that NVR, Inc. will post 500.67 EPS for the current year.

NVR declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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.