Strs Ohio Sells 600 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Strs Ohio reduced its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 25.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,800 shares of the construction company’s stock after selling 600 shares during the quarter. Strs Ohio’s holdings in Hovnanian Enterprises were worth $280,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Hovnanian Enterprises by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 35,316 shares of the construction company’s stock worth $3,590,000 after buying an additional 351 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Hovnanian Enterprises in the 3rd quarter worth about $468,000. Principal Financial Group Inc. bought a new stake in Hovnanian Enterprises in the 3rd quarter valued at about $227,000. Los Angeles Capital Management LLC purchased a new stake in Hovnanian Enterprises during the third quarter valued at about $1,614,000. Finally, Jump Financial LLC boosted its position in Hovnanian Enterprises by 30.3% during the third quarter. Jump Financial LLC now owns 6,462 shares of the construction company’s stock worth $657,000 after purchasing an additional 1,502 shares during the period. Institutional investors own 65.40% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ara K. Hovnanian sold 1,000 shares of the company’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 value of $157,820.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HOV shares. Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a research report on Friday, April 12th. StockNews.com cut Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, March 3rd. Finally, TheStreet raised Hovnanian Enterprises from a “c+” rating to a “b-” rating in a report on Friday, February 16th.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $151.75 on Tuesday. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $183.60. The company has a current ratio of 4.07, a quick ratio of 0.86 and a debt-to-equity ratio of 2.19. The stock has a market cap of $925.68 million, a P/E ratio of 5.46 and a beta of 2.61. The company has a 50 day moving average of $146.86 and a 200 day moving average of $132.86.

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

Hovnanian Enterprises 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.