Vestcor Inc Grows Stake in Hovnanian Enterprises Inc (NYSE:HOV)

Vestcor Inc raised its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,381 shares of the construction company’s stock after acquiring an additional 372 shares during the period. Vestcor Inc owned approximately 0.09% of Hovnanian Enterprises worth $563,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hovnanian Enterprises by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company’s stock worth $378,000 after purchasing an additional 117 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Hovnanian Enterprises by 4.0% in the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company’s stock worth $632,000 after purchasing an additional 182 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Hovnanian Enterprises by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 10,863 shares of the construction company’s stock worth $1,454,000 after purchasing an additional 201 shares during the last quarter. Exchange Traded Concepts LLC raised its stake 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 purchasing an additional 215 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Hovnanian Enterprises by 5.5% in the fourth quarter. Legal & General Group Plc now owns 5,045 shares of the construction company’s stock worth $675,000 after purchasing an additional 265 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the sale, the director owned 5,338 shares of the company’s stock, valued at approximately $571,806.56. The trade was a 50.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 19.77% of the company’s stock.

Hovnanian Enterprises Stock Performance

Shares of HOV opened at $124.51 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28. Hovnanian Enterprises Inc has a one year low of $81.15 and a one year high of $240.34. The firm has a market capitalization of $737.10 million, a P/E ratio of 4.36 and a beta of 2.19. The business has a fifty day moving average of $106.27 and a 200 day moving average of $108.80.

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

Analyst Ratings Changes

Several brokerages recently commented on HOV. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Hovnanian Enterprises in a report on Wednesday, June 11th. Wall Street Zen lowered Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st.

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.