Vestcor Inc Acquires 720 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Vestcor Inc lifted its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,009 shares of the construction company’s stock after buying an additional 720 shares during the period. Vestcor Inc owned about 0.08% of Hovnanian Enterprises worth $670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of HOV. Metis Global Partners LLC acquired a new position in shares of Hovnanian Enterprises during the third quarter worth about $248,000. Empowered Funds LLC boosted its position in shares of Hovnanian Enterprises by 5.3% during the third quarter. Empowered Funds LLC now owns 29,206 shares of the construction company’s stock worth $5,969,000 after buying an additional 1,474 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Hovnanian Enterprises by 93.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,779 shares of the construction company’s stock worth $1,794,000 after buying an additional 4,246 shares during the period. Intech Investment Management LLC acquired a new position in shares of Hovnanian Enterprises during the third quarter worth about $345,000. Finally, Foundry Partners LLC boosted its position in Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock valued at $10,793,000 after purchasing an additional 18,372 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HOV. StockNews.com cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Wedbush reissued a “neutral” rating and set a $155.00 price target on shares of Hovnanian Enterprises in a research report on Monday, December 16th. Finally, Zelman & Associates reissued an “underperform” rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th.

Hovnanian Enterprises Stock Performance

HOV opened at $107.89 on Monday. Hovnanian Enterprises, Inc. has a 12-month low of $95.27 and a 12-month high of $240.34. The stock has a market cap of $639.27 million, a price-to-earnings ratio of 3.36 and a beta of 2.85. The business has a 50 day moving average of $123.65 and a 200-day moving average of $161.14. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data 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. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The company had revenue of $673.62 million during the quarter, compared to analysts’ expectations of $705.80 million.

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.