State Street Corp Cuts Holdings in Hovnanian Enterprises, Inc. (NYSE:HOV)

State Street Corp decreased its position in Hovnanian Enterprises, Inc. (NYSE:HOV) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 227,971 shares of the construction company’s stock after selling 2,394 shares during the period. State Street Corp owned 3.77% of Hovnanian Enterprises worth $46,590,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Hovnanian Enterprises by 16.1% during 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. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Hovnanian Enterprises in the 3rd quarter worth about $17,449,000. Brightline Capital Management LLC grew its position in Hovnanian Enterprises by 68.8% during the third quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock valued at $16,554,000 after buying an additional 33,000 shares during the period. AQR Capital Management LLC increased its holdings in Hovnanian Enterprises by 8.3% during the second 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 last quarter. Finally, Foundry Partners LLC raised its position in Hovnanian Enterprises by 53.3% in the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company’s stock worth $10,793,000 after acquiring an additional 18,372 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

HOV opened at $132.63 on Friday. The firm has a 50-day moving average price of $177.82 and a 200-day moving average price of $180.97. Hovnanian Enterprises, Inc. has a twelve month low of $125.63 and a twelve month high of $240.34. 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 company has a market capitalization of $803.07 million, a price-to-earnings ratio of 4.13 and a beta of 2.62.

Insider Buying and Selling

In other Hovnanian Enterprises news, Director Robin Stone Sellers sold 531 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $205.75, for a total value of $109,253.25. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $188.86, for a total value of $283,290.00. Following the transaction, the director now directly owns 13,290 shares of the company’s stock, 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. In the last ninety days, insiders sold 6,675 shares of company stock valued at $1,326,791. Company insiders own 17.67% of the company’s stock.

Wall Street Analysts Forecast Growth

HOV has been the subject of several research analyst reports. StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research report on Monday.

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.