Hovnanian Enterprises Inc (NYSE:HOV) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 18.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,841 shares of the construction company’s stock after buying an additional 900 shares during the period. New York State Common Retirement Fund owned 0.10% of Hovnanian Enterprises worth $612,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Hovnanian Enterprises by 46.5% in the first quarter. Farther Finance Advisors LLC now owns 2,913 shares of the construction company’s stock worth $305,000 after acquiring an additional 925 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hovnanian Enterprises by 64.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,905 shares of the construction company’s stock worth $1,325,000 after acquiring an additional 3,891 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Hovnanian Enterprises by 10.1% in the first quarter. Exchange Traded Concepts LLC now owns 2,350 shares of the construction company’s stock worth $246,000 after acquiring an additional 215 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Hovnanian Enterprises by 147.7% in the fourth quarter. BNP Paribas Financial Markets now owns 2,598 shares of the construction company’s stock worth $348,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Hovnanian Enterprises by 60.9% in the fourth quarter. Cerity Partners LLC now owns 4,223 shares of the construction company’s stock worth $572,000 after acquiring an additional 1,599 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HOV has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a report on Wednesday, June 11th. Wall Street Zen cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st.

Insider Buying and Selling

In related news, Director Edward A. Kangas sold 5,500 shares of the company’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the transaction, the director directly owned 5,338 shares in the company, valued at approximately $571,806.56. This represents a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 19.77% of the company’s stock.

Hovnanian Enterprises Stock Performance

Hovnanian Enterprises stock opened at $119.87 on Friday. The firm has a market capitalization of $709.65 million, a P/E ratio of 4.20 and a beta of 2.13. The stock has a fifty day moving average price of $103.58 and a 200 day moving average price of $109.31. Hovnanian Enterprises Inc has a 52 week low of $81.15 and a 52 week high of $240.34. The company has a current ratio of 1.58, a quick ratio of 0.28 and a debt-to-equity ratio of 0.11.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). The business had revenue of $686.47 million during the quarter, compared to analyst estimates of $733.20 million. Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.

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.