Vanguard Group Inc. Boosts Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Vanguard Group Inc. grew its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 260,791 shares of the construction company’s stock after purchasing an additional 10,967 shares during the quarter. Vanguard Group Inc.’s holdings in Hovnanian Enterprises were worth $26,512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG boosted its stake in shares of Hovnanian Enterprises by 8.4% in the third quarter. UBS Group AG now owns 45,432 shares of the construction company’s stock valued at $4,619,000 after purchasing an additional 3,528 shares during the period. Trexquant Investment LP purchased a new position in Hovnanian Enterprises in the third quarter worth approximately $447,000. Los Angeles Capital Management LLC purchased a new position in Hovnanian Enterprises in the third quarter worth approximately $1,614,000. American Century Companies Inc. lifted its stake in Hovnanian Enterprises by 25.5% in the third quarter. American Century Companies Inc. now owns 81,645 shares of the construction company’s stock worth $8,300,000 after acquiring an additional 16,575 shares during the last quarter. Finally, Swiss National Bank purchased a new position in Hovnanian Enterprises in the third quarter worth approximately $1,057,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOV. StockNews.com downgraded shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, March 3rd. TheStreet upgraded shares of Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research note on Friday, February 16th. Finally, Zelman & Associates reiterated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Friday.

Insiders Place Their Bets

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $157.82, for a total transaction of $157,820.00. Following the sale, the chief executive officer now owns 51,475 shares of the company’s stock, valued at $8,123,784.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.67% of the stock is owned by corporate insiders.

Hovnanian Enterprises Stock Down 2.9 %

HOV stock opened at $141.92 on Friday. The company has a current ratio of 4.07, a quick ratio of 0.86 and a debt-to-equity ratio of 2.19. Hovnanian Enterprises, Inc. has a twelve month low of $63.39 and a twelve month high of $183.60. The company’s 50 day moving average is $151.36 and its two-hundred day moving average is $128.63. The stock has a market cap of $865.71 million, a P/E ratio of 5.10 and a beta of 2.61.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.75 earnings per share for the quarter. Hovnanian Enterprises had a net margin of 7.45% and a return on equity of 58.22%. The company had revenue of $594.20 million for the quarter.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.