Covey Capital Advisors LLC Cuts Position in NVR, Inc. (NYSE:NVR)

Covey Capital Advisors LLC reduced its position in NVR, Inc. (NYSE:NVR) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149 shares of the construction company’s stock after selling 8 shares during the quarter. NVR comprises approximately 1.6% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Covey Capital Advisors LLC’s holdings in NVR were worth $1,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVR. Captrust Financial Advisors boosted its stake in shares of NVR by 1,869.0% in the third quarter. Captrust Financial Advisors now owns 571 shares of the construction company’s stock worth $5,603,000 after acquiring an additional 542 shares during the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of NVR by 21.7% in the third quarter. Capstone Investment Advisors LLC now owns 73 shares of the construction company’s stock valued at $716,000 after purchasing an additional 13 shares in the last quarter. Walleye Capital LLC increased its position in shares of NVR by 569.4% during the third quarter. Walleye Capital LLC now owns 743 shares of the construction company’s stock worth $7,290,000 after acquiring an additional 632 shares during the period. Martingale Asset Management L P acquired a new position in NVR during the 3rd quarter worth $1,825,000. Finally, Vinva Investment Management Ltd grew its position in shares of NVR by 74.7% during the third quarter. Vinva Investment Management Ltd now owns 428 shares of the construction company’s stock worth $4,166,000 after buying an additional 183 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

NVR Trading Down 0.3 %

NYSE:NVR opened at $9,193.62 on Friday. NVR, Inc. has a 12-month low of $6,052.58 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 stock’s 50 day simple moving average is $9,409.77 and its 200-day simple moving average is $8,627.41. The firm has a market cap of $28.13 billion, a P/E ratio of 18.79, a PEG ratio of 1.97 and a beta of 1.20.

NVR (NYSE:NVR) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $130.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $131.00 by ($0.50). NVR had a net margin of 16.51% and a return on equity of 38.20%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm posted $125.26 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts anticipate that NVR, Inc. will post 494.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America lowered their target price on shares of NVR from $10,800.00 to $10,600.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on 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 cut shares of NVR from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Seaport Res Ptn cut shares of NVR from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8,783.33.

Insider Activity

In other NVR news, CAO Matthew B. Kelpy sold 400 shares of the company’s 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 transaction, the chief accounting officer now directly owns 208 shares in the company, valued at approximately $1,965,600. This represents a 65.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Preiser sold 250 shares of NVR stock in a transaction that occurred 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 owns 239 shares of the company’s stock, valued at approximately $2,223,330.96. The trade was a 51.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 775 shares of company stock valued at $7,294,073 in the last three months. 7.00% of the stock is currently owned by company insiders.

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.