MetLife Investment Management LLC Grows Stock Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

MetLife Investment Management LLC boosted its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,996 shares of the construction company’s stock after buying an additional 272 shares during the quarter. MetLife Investment Management LLC’s holdings in Hovnanian Enterprises were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Hovnanian Enterprises by 7.2% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Hovnanian Enterprises by 98.5% in the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock valued at $6,023,000 after purchasing an additional 14,624 shares in the last quarter. Barclays PLC grew its position in shares of Hovnanian Enterprises by 352.6% in the third quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock valued at $1,691,000 after purchasing an additional 6,446 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Hovnanian Enterprises in the fourth quarter valued at approximately $764,000. Finally, Cerity Partners LLC increased its stake in shares of Hovnanian Enterprises by 60.9% during the 4th quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock worth $572,000 after purchasing an additional 1,599 shares in the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Down 3.3 %

Shares of NYSE HOV opened at $98.39 on Wednesday. The firm has a market cap of $582.96 million, a P/E ratio of 3.06 and a beta of 2.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. Hovnanian Enterprises, Inc. has a 1 year low of $81.15 and a 1 year high of $240.34. The firm’s 50 day moving average price is $100.71 and its 200 day moving average price is $133.59.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th.

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.