Royal Bank Cuts Stake in NVR Amid Ongoing Earnings Pressure
Royal Bank of Canada has reduced its stake in NVR, Inc. (NYSE:NVR) by 1.9% during the first quarter, according to a recent SEC filing.
The bank sold 318 shares of the construction company's stock, leaving it with 16,590 shares worth around $109 million at the end of the quarter.
This is not an isolated incident, as other hedge funds and institutional investors have also been modifying their holdings in NVR during this period.