Northern Trust Corp Grows Stock Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

Northern Trust Corp boosted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,502 shares of the construction company’s stock after purchasing an additional 3,657 shares during the quarter. Northern Trust Corp owned about 0.77% of Hovnanian Enterprises worth $6,223,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL grew its stake in Hovnanian Enterprises by 11.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 3,716 shares of the construction company’s stock worth $497,000 after acquiring an additional 379 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of 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 during the period. Dimensional Fund Advisors LP grew its position in Hovnanian Enterprises by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company’s stock valued at $24,210,000 after buying an additional 602 shares during the period. First Trust Advisors LP acquired a new stake in Hovnanian Enterprises during the fourth quarter valued at $2,772,000. Finally, Canada Pension Plan Investment Board purchased a new position in Hovnanian Enterprises during the fourth quarter valued at $883,000. 65.40% of the stock is currently owned by institutional investors.

Hovnanian Enterprises Price Performance

Shares of HOV opened at $110.24 on Tuesday. 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 stock’s 50 day moving average is $101.23 and its two-hundred day moving average is $128.80. The firm has a market capitalization of $653.17 million, a PE ratio of 3.43 and a beta of 2.28. Hovnanian Enterprises, Inc. has a twelve month low of $81.15 and a twelve month high of $240.34.

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

Wall Street Analyst Weigh In

HOV has been the topic of several research reports. StockNews.com downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

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.