The Manufacturers Life Insurance Company Sells 101 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

The Manufacturers Life Insurance Company lowered its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,560 shares of the construction company’s stock after selling 101 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hovnanian Enterprises were worth $343,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock valued at $319,000 after purchasing an additional 161 shares during the period. Cerity Partners LLC lifted its position in Hovnanian Enterprises by 60.9% during the fourth quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock valued at $572,000 after purchasing an additional 1,599 shares during the last quarter. Swiss National Bank grew its stake in shares of Hovnanian Enterprises by 5.3% in the 4th quarter. Swiss National Bank now owns 9,900 shares of the construction company’s stock worth $1,325,000 after buying an additional 500 shares in the last quarter. MetLife Investment Management LLC grew its position in Hovnanian Enterprises by 10.0% in the fourth quarter. MetLife Investment Management LLC now owns 2,996 shares of the construction company’s stock worth $401,000 after acquiring an additional 272 shares in the last quarter. Finally, Barclays PLC increased its stake in Hovnanian Enterprises by 12.5% during the fourth quarter. Barclays PLC now owns 9,306 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,032 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Hovnanian Enterprises Trading Up 2.8%

NYSE HOV opened at $111.11 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $101.09 and a two-hundred day simple moving average of $129.60. Hovnanian Enterprises, Inc. has a 12-month low of $81.15 and a 12-month high of $240.34. The stock has a market cap of $658.34 million, a P/E ratio of 3.46 and a beta of 2.28.

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

Analysts Set New Price Targets

Several brokerages have issued reports on HOV. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. StockNews.com downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a 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.