NVR Falls After Q2 Profit, Revenue and Margins Decline

NVR (NVR) is down 4.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst is NVR’s second-quarter earnings release on July 23, 2026, which showed a sharp year-over-year drop in profit, revenue and homebuilding margin. Investors also appear focused on management’s comments that higher lot costs, pricing pressure, affordability challenges and weak consumer sentiment hurt results, even though orders and backlog improved.

Details:

Second-quarter net income fell 29% to $236.5 million, while diluted earnings per share dropped 23% to $83.96.

Consolidated revenue declined to $2.33 billion from $2.60 billion a year earlier, and homebuilding revenue fell 11%.

Homebuilding gross margin narrowed to 19.2% from 21.5%, with the company citing higher lot costs, pricing pressure and about $21.7 million of contract land deposit impairments.

New orders rose 9% and backlog increased, but average order prices fell 5% and settlements slipped 8%, suggesting demand is still being supported by lower pricing in a tough affordability environment. This could also be weighing on sentiment across the stock.

Sources:

NVR, SEC, NAHB

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NVR Insider Trading Activity

$NVR insiders have traded $NVR stock on the open market 5 times in the past 6 months. Of those trades, 1 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $NVR stock by insiders over the last 6 months:

SUSAN WILLIAMSON ROSS has made 0 purchases and 3 sales selling 620 shares for an estimated $4,962,736.
MATTHEW B. KELPY (VP, Chief Accounting Officer) sold 500 shares for an estimated $4,050,000
MICHAEL J DEVITO purchased 11 shares for an estimated $73,694

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$NVR Hedge Fund Activity

We have seen 251 institutional investors add shares of $NVR stock to their portfolio, and 290 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FULCRUM ASSET MANAGEMENT LLP removed 38,857 shares (-99.9%) from their portfolio in Q1 2026, for an estimated $256,061,024
CORIENT PRIVATE WEALTH LLC removed 36,448 shares (-80.0%) from their portfolio in Q1 2026, for an estimated $240,186,123
CAPITAL RESEARCH GLOBAL INVESTORS added 29,411 shares (+22.0%) to their portfolio in Q1 2026, for an estimated $193,813,490
CITADEL ADVISORS LLC removed 26,378 shares (-91.8%) from their portfolio in Q1 2026, for an estimated $173,826,535
FIRST TRUST ADVISORS LP added 21,926 shares (+879.9%) to their portfolio in Q1 2026, for an estimated $144,488,612
PRICE T ROWE ASSOCIATES INC /MD/ removed 21,046 shares (-81.3%) from their portfolio in Q1 2026, for an estimated $138,689,562
NEWPORT CAPITAL GROUP, LLC removed 14,586 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $96,119,260

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$NVR Congressional Stock Trading

Members of Congress have traded $NVR stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $NVR stock by members of Congress over the last 6 months:

REPRESENTATIVE MARIA ELVIRA SALAZAR purchased up to $15,000 on 03/19.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$NVR Analyst Ratings

Wall Street analysts have issued reports on $NVR in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Zelman & Assoc issued a "Buy" rating on 07/07/2026

To track analyst ratings and price targets for $NVR, check out Quiver Quantitative's $NVR forecast page.

$NVR Price Targets

Multiple analysts have issued price targets for $NVR recently. We have seen 5 analysts offer price targets for $NVR in the last 6 months, with a median target of $7675.0.

Here are some recent targets:

Jonathan Bettenhausen from Truist Securities set a target price of $6600.0 on 04/23/2026
John Lovallo from UBS set a target price of $7700.0 on 04/23/2026
Rafe Jadrosich from B of A Securities set a target price of $8225.0 on 04/20/2026
Kenneth Zener from Seaport Global set a target price of $5664.0 on 04/07/2026
An analyst from Zelman & Assoc set a target price of $7675.0 on 01/29/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.