Hovnanian Enterprises Inc $HOV Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in Hovnanian Enterprises Inc (NYSE:HOV – Free Report) by 46.5% during the first quarter, Holdings Channel.com reports. The firm owned 73,146 shares of the construction company’s stock after purchasing an additional 23,234 shares during the quarter. Empowered Funds LLC’s holdings in Hovnanian Enterprises were worth $8,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its stake in shares of Hovnanian Enterprises by 72.1% during the 2nd quarter. Osaic Holdings Inc. now owns 432 shares of the construction company’s stock worth $45,000 after buying an additional 181 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Hovnanian Enterprises by 614.1% during the second quarter. Tower Research Capital LLC TRC now owns 557 shares of the construction company’s stock worth $58,000 after acquiring an additional 479 shares during the period. State of Wyoming purchased a new position in Hovnanian Enterprises in the first quarter worth $62,000. International Assets Investment Management LLC acquired a new stake in Hovnanian Enterprises in the fourth quarter valued at $117,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Hovnanian Enterprises by 38.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,369 shares of the construction company’s stock valued at $134,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

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Insider Buying and Selling at Hovnanian Enterprises

In other news, Director J Larry Sorsby sold 1,032 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $142.57, for a total value of $147,132.24. Following the completion of the transaction, the director directly owned 187,416 shares of the company’s stock, valued at $26,719,899.12. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ara K. Hovnanian sold 12,880 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $125.78, for a total value of $1,620,046.40. The SEC filing for this sale provides additional information. Company insiders own 22.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citizens Jmp started coverage on shares of Hovnanian Enterprises in a research report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 target price on the stock. Weiss Ratings raised Hovnanian Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $97.00.

Get Our Latest Stock Analysis on HOV

Hovnanian Enterprises Trading Down 4.4%

Shares of HOV opened at $123.65 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.50 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $125.60 and a 200-day simple moving average of $118.59. Hovnanian Enterprises Inc has a 1-year low of $91.52 and a 1-year high of $162.05. The stock has a market cap of $724.57 million, a price-to-earnings ratio of 33.97 and a beta of 1.81.

Hovnanian Enterprises (NYSE:HOV – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $1.58. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.The firm had revenue of $667.65 million during the quarter, compared to the consensus estimate of $626.40 million.

Hovnanian Enterprises Profile

(Free Report)

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.

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