Intech Investment Management LLC Invests $345,000 in Hovnanian Enterprises, Inc. (NYSE:HOV)

Intech Investment Management LLC purchased a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) during the third quarter, HoldingsChannel reports. The firm purchased 1,689 shares of the construction company’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Hovnanian Enterprises by 2.9% during the second quarter. Meeder Asset Management Inc. now owns 2,223 shares of the construction company’s stock worth $315,000 after buying an additional 63 shares during the period. Koss Olinger Consulting LLC grew its position in Hovnanian Enterprises by 3.5% during the third quarter. Koss Olinger Consulting LLC now owns 3,404 shares of the construction company’s stock worth $696,000 after buying an additional 115 shares during the period. Range Financial Group LLC grew its position in Hovnanian Enterprises by 2.6% during the second quarter. Range Financial Group LLC now owns 4,595 shares of the construction company’s stock worth $652,000 after buying an additional 117 shares during the period. The Manufacturers Life Insurance Company grew its position in Hovnanian Enterprises by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,928 shares of the construction company’s stock worth $274,000 after buying an additional 145 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Hovnanian Enterprises during the third quarter worth about $33,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Hovnanian Enterprises Stock Up 1.1 %

Shares of NYSE HOV opened at $196.74 on Wednesday. Hovnanian Enterprises, Inc. has a 12-month low of $95.30 and a 12-month high of $240.34. The company has a market capitalization of $1.19 billion, a PE ratio of 6.07 and a beta of 2.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.27. The firm’s 50-day moving average is $187.67 and its two-hundred day moving average is $180.29.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 13,552 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $215.14, for a total transaction of $2,915,577.28. Following the transaction, the chief executive officer now owns 47,279 shares of the company’s stock, valued at approximately $10,171,604.06. This represents a 22.28 % decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the transaction, the director now directly owns 13,290 shares in the company, valued at $2,509,949.40. The trade was a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,289 shares of company stock valued at $5,158,796 over the last quarter. Corporate insiders own 17.67% of the company’s stock.

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.