JPMorgan Chase & Co. Lowers Stake in Hovnanian Enterprises, Inc. (NYSE:HOV)

JPMorgan Chase & Co. decreased its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,092 shares of the construction company’s stock after selling 6,380 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Hovnanian Enterprises worth $3,090,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HOV. FMR LLC lifted its stake in Hovnanian Enterprises by 20.6% during the 3rd quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after acquiring an additional 59 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hovnanian Enterprises by 0.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company’s stock worth $1,186,000 after purchasing an additional 81 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Hovnanian Enterprises by 1.0% in the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock valued at $1,184,000 after purchasing an additional 85 shares in the last quarter. Principal Financial Group Inc. increased its stake in Hovnanian Enterprises by 7.2% during the 4th quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock worth $319,000 after buying an additional 161 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $25,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Trading Down 4.0 %

Shares of NYSE:HOV opened at $91.79 on Tuesday. Hovnanian Enterprises, Inc. has a 52 week low of $81.15 and a 52 week high of $240.34. The company’s 50 day moving average is $105.63 and its two-hundred day moving average is $140.75. The company has a market cap of $543.86 million, a PE ratio of 2.86 and a beta of 2.43. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV) last issued its earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The firm had revenue of $673.62 million during the quarter, compared to the consensus estimate of $705.80 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HOV. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. StockNews.com lowered Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th.

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.