Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its stake in Hovnanian Enterprises, Inc. (NYSE:HOV) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,206 shares of the construction company’s stock after purchasing an additional 1,474 shares during the quarter. Empowered Funds LLC’s holdings in Hovnanian Enterprises were worth $5,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOV. Bank of Montreal Can increased its holdings in shares of Hovnanian Enterprises by 72.3% in the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock valued at $6,438,000 after purchasing an additional 19,031 shares during the last quarter. American Century Companies Inc. grew its position in Hovnanian Enterprises by 16.1% in the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after acquiring an additional 18,622 shares during the period. Nisa Investment Advisors LLC grew its position in Hovnanian Enterprises by 425,175.0% in the second quarter. Nisa Investment Advisors LLC now owns 17,011 shares of the construction company’s stock worth $2,414,000 after acquiring an additional 17,007 shares during the period. Vanguard Group Inc. grew its position in Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after acquiring an additional 16,012 shares during the period. Finally, SG Americas Securities LLC grew its position in Hovnanian Enterprises by 2,143.3% in the second quarter. SG Americas Securities LLC now owns 14,402 shares of the construction company’s stock worth $2,044,000 after acquiring an additional 13,760 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd.

Insider Transactions at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,890 shares in the company, valued at $2,957,610.50. This trade represents a 60.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction on Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the completion of the transaction, the director now owns 13,290 shares of the company’s stock, valued at approximately $2,509,949.40. This trade represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,057 shares of company stock worth $12,824,040 over the last ninety days. Company insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Trading Down 0.7 %

Shares of Hovnanian Enterprises stock opened at $167.94 on Friday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.19 and a beta of 2.60. Hovnanian Enterprises, Inc. has a fifty-two week low of $86.61 and a fifty-two week high of $240.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The stock has a 50 day moving average of $193.25 and a 200 day moving average of $178.66.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, August 22nd. The construction company reported $9.75 EPS for the quarter. Hovnanian Enterprises had a return on equity of 52.22% and a net margin of 8.41%. The business had revenue of $722.70 million during the quarter. During the same quarter in the prior year, the business earned $7.38 earnings per share. As a group, research analysts predict that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current year.

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.