The Manufacturers Life Insurance Company Has $274,000 Stock Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

The Manufacturers Life Insurance Company lifted its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 8.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,928 shares of the construction company’s stock after acquiring an additional 145 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hovnanian Enterprises were worth $274,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Hovnanian Enterprises by 6.1% during the first quarter. Vanguard Group Inc. now owns 280,435 shares of the construction company’s stock worth $44,011,000 after purchasing an additional 16,012 shares during the period. American Century Companies Inc. raised its holdings in shares of Hovnanian Enterprises by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock worth $19,008,000 after buying an additional 18,622 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Hovnanian Enterprises by 8.3% during the 2nd quarter. AQR Capital Management LLC now owns 67,180 shares of the construction company’s stock worth $9,534,000 after buying an additional 5,135 shares during the period. Bank of Montreal Can lifted its position in shares of Hovnanian Enterprises by 72.3% during the 2nd quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after buying an additional 19,031 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Hovnanian Enterprises by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company’s stock valued at $4,975,000 after buying an additional 993 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling 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 value of $4,589,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,890 shares in the company, valued at approximately $2,957,610.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ara K. Hovnanian sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $229.45, for a total transaction of $4,589,000.00. Following the transaction, the chief executive officer now directly owns 12,890 shares in the company, valued at approximately $2,957,610.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $928,840.00. Following the sale, the director now directly owns 14,790 shares in the company, valued at $3,434,385.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,057 shares of company stock worth $12,824,040. 17.67% of the stock is currently owned by insiders.

Hovnanian Enterprises Price Performance

NYSE:HOV opened at $200.11 on Friday. The company has a quick ratio of 0.27, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.20 billion, a PE ratio of 6.67 and a beta of 2.59. Hovnanian Enterprises, Inc. has a 12 month low of $65.22 and a 12 month high of $240.34. The company’s 50-day moving average price is $203.68 and its two-hundred day moving average price is $173.40.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. The company 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 firm posted $7.38 EPS. On average, equities analysts anticipate that Hovnanian Enterprises, Inc. will post 30 EPS for the current fiscal 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.