headwinds. A mix shift to higher-margin City Living condominiums will help mask underlying margin pressure, though. We maintain our $27 fair value estimate for Toll Brothers and continue to prefer land-light NVR over all other builders.
Home ( KBH -1.8% ), PulteGroup ( PHM -1.4% ), D.R. Horton ( DHI -1.1% ), Ryland ( RYL -1.5% ), NVR ( NVR -1.1% ), Standard Pacific ( SPF -1.1% ). Post your comment!
available to purchase just-in-time, NVR may be forced to take more raw land onto ..... the firm's historically strong ROICs. NVR 's geographic positioning in the Eastern ..... desires to live closer to city centers. NVR has earned the best returns on invested
firm's newfound focus on ROICs over market share gains should provide better shareholder returns over a full market cycle. NVR has proven throughout the last 20 years that the land-light model is superior to a long-land model, and we generally support
NVR ’s weather-challenged first-quarter results ..... Nonetheless, the three primary metrics we look to in NVR ’s quarterly results--homebuilding adjusted ..... all were encouraging. We continue to view NVR as a best-of-breed homebuilder with a unique
best avenues to invest in housing in our homebuilder and building supplier coverage universe are currently Morningstar Best Idea NVR and narrow-moat Fortune Brands Home Security, trading at 15% and 9% discounts to our fair value estimates, respectively
some ramifications for the homebuilders and the supplier companies that we cover. As far as our top picks, [TICKER: NVR ] NVR , a homebuilder based in Virginia, is our best pick. It has about an 18% discount to our fair value estimate. Also
Best-idea NVR reported weaker-than-expected first quarter results as a historically ..... Persistently very cold and snowy conditions throughout the majority of NVR ’s geographic markets likely challenged homebuyer traffic, with new
auto and housing loans to meet the demand in the US. Companies like Berkshire Hathaway (BRKB), Home Depot (HD) and NVR ( NVR ) will work to supply us with the new homes. Lastly, we want to own the major pharmaceutical/biotech companies which
a cycle peak year from most homebuilders' gross margins. As such, we continue to believe that investors would be better served to avoid most homebuilders (Best Idea NVR the exception) if seeking leverage to a recovering housing market.