Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 38.0% during the third quarter, HoldingsChannel.com reports. The firm owned 2,661 shares of the construction company’s stock after buying an additional 733 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Hovnanian Enterprises were worth $544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings 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 valued at $2,414,000 after buying an additional 17,007 shares during the period. Summit Global Investments purchased a new position in shares of Hovnanian Enterprises in the 2nd quarter valued at $1,116,000. Bank of New York Mellon Corp lifted its holdings in shares of Hovnanian Enterprises by 2.9% during 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 acquiring an additional 993 shares in the last quarter. Innealta Capital LLC purchased a new stake in Hovnanian Enterprises during the 2nd quarter worth $37,000. Finally, Principal Financial Group Inc. increased its holdings in Hovnanian Enterprises by 11.0% in the 2nd quarter. Principal Financial Group Inc. now owns 3,298 shares of the construction company’s stock valued at $468,000 after purchasing an additional 327 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hovnanian Enterprises Trading Down 4.7 %

Shares of HOV opened at $156.86 on Friday. Hovnanian Enterprises, Inc. has a one year low of $125.63 and a one year high of $240.34. The stock has a 50-day moving average price of $182.16 and a 200 day moving average price of $181.33. 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 company has a market capitalization of $949.00 million, a P/E ratio of 4.89 and a beta of 2.62.

Insider Activity at Hovnanian Enterprises

In related news, CEO Ara K. Hovnanian sold 123 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $220.13, for a total transaction of $27,075.99. Following the sale, the chief executive officer now directly owns 47,156 shares of the company’s stock, valued at approximately $10,380,450.28. This represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $205.75, for a total value of $109,253.25. Following the transaction, the director now owns 21,033 shares in the company, valued at $4,327,539.75. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,289 shares of company stock valued at $5,158,796 over the last three months. 17.67% of the stock is owned by insiders.

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.