Arizona State Retirement System Invests $209,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Arizona State Retirement System bought a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the 4th quarter, HoldingsChannel reports. The fund bought 1,345 shares of the construction company’s stock, valued at approximately $209,000.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Hovnanian Enterprises by 9.9% during the 2nd quarter. BlackRock Inc. now owns 331,716 shares of the construction company’s stock worth $32,910,000 after purchasing an additional 29,938 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hovnanian Enterprises by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 268,482 shares of the construction company’s stock worth $9,585,000 after buying an additional 20,089 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Hovnanian Enterprises by 15.3% during the 2nd quarter. Renaissance Technologies LLC now owns 261,715 shares of the construction company’s stock worth $11,199,000 after buying an additional 34,810 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hovnanian Enterprises by 24.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 177,105 shares of the construction company’s stock worth $17,569,000 after buying an additional 34,463 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Hovnanian Enterprises by 4.1% during the 2nd quarter. State Street Corp now owns 104,317 shares of the construction company’s stock worth $4,464,000 after buying an additional 4,143 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Hovnanian Enterprises Price Performance

Shares of HOV stock opened at $130.26 on Monday. The company has a quick ratio of 0.86, a current ratio of 4.07 and a debt-to-equity ratio of 2.19. The company has a market cap of $794.59 million, a P/E ratio of 4.68 and a beta of 2.61. Hovnanian Enterprises, Inc. has a twelve month low of $65.22 and a twelve month high of $183.60. The business has a fifty day simple moving average of $148.65 and a 200 day simple moving average of $130.22.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HOV. TheStreet upgraded Hovnanian Enterprises from a “c+” rating to a “b-” rating in a research report on Friday, February 16th. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. Finally, StockNews.com downgraded Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd.

Insider Buying and Selling at Hovnanian Enterprises

In other Hovnanian Enterprises news, CEO Ara K. Hovnanian sold 1,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $157.82, for a total value of $157,820.00. Following the completion of the transaction, the chief executive officer now directly owns 51,475 shares in the company, valued at $8,123,784.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.67% of the company’s stock.

About Hovnanian Enterprises

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.