Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,988 shares of the construction company’s stock after selling 198 shares during the quarter. Farther Finance Advisors LLC’s holdings in Hovnanian Enterprises were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC grew its position in shares of Hovnanian Enterprises by 20.6% during the third quarter. FMR LLC now owns 346 shares of the construction company’s stock worth $71,000 after buying an additional 59 shares in the last quarter. Rhumbline Advisers lifted its stake in Hovnanian Enterprises by 1.0% during the fourth quarter. Rhumbline Advisers now owns 8,850 shares of the construction company’s stock worth $1,184,000 after purchasing an additional 85 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock worth $319,000 after purchasing an additional 161 shares during the last quarter. Cerity Partners LLC lifted its stake in Hovnanian Enterprises by 7.8% during the third quarter. Cerity Partners LLC now owns 2,624 shares of the construction company’s stock worth $536,000 after purchasing an additional 190 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Hovnanian Enterprises by 0.3% during the third quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock worth $22,882,000 after purchasing an additional 322 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Performance

HOV stock opened at $109.19 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The stock has a market capitalization of $646.95 million, a price-to-earnings ratio of 3.40 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 1 year low of $95.27 and a 1 year high of $240.34. The stock’s fifty day moving average is $122.95 and its two-hundred day moving average is $159.62.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HOV. Wedbush restated a “neutral” rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. Finally, StockNews.com cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.