Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,033 shares of the construction company’s stock after acquiring an additional 330 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Hovnanian Enterprises worth $1,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundry Partners LLC acquired a new stake in Hovnanian Enterprises during the first quarter worth about $4,259,000. Vanguard Group Inc. increased its stake in shares of Hovnanian Enterprises by 6.1% in the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock valued at $44,011,000 after purchasing an additional 16,012 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of 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 valued at $2,414,000 after purchasing an additional 17,007 shares during the period. SG Americas Securities LLC increased its stake in shares of 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 valued at $2,044,000 after purchasing an additional 13,760 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Hovnanian Enterprises by 19.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,658 shares of the construction company’s stock valued at $414,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Edward A. Kangas sold 4,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total value of $928,840.00. Following the completion of the transaction, the director now directly owns 14,790 shares in the company, valued at $3,434,385.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward A. Kangas sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $232.21, for a total transaction of $928,840.00. Following the completion of the sale, the director now directly owns 14,790 shares in the company, valued at $3,434,385.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ara K. Hovnanian sold 1,123 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $140.05, for a total transaction of $157,276.15. Following the sale, the chief executive officer now owns 59,859 shares of the company’s stock, valued at $8,383,252.95. The disclosure for this sale can be found here. Insiders sold 91,677 shares of company stock worth $17,033,021 over the last three months. Corporate insiders own 17.67% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $214.92 on Friday. The firm’s 50 day moving average is $199.40 and its two-hundred day moving average is $166.34. Hovnanian Enterprises, Inc. has a 52 week low of $65.22 and a 52 week high of $240.34. The firm has a market capitalization of $1.29 billion, a P/E ratio of 7.16 and a beta of 2.64. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20.

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

Hovnanian Enterprises 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.