Axa S.A. Acquires 5,226 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Axa S.A. lifted its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 306.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,930 shares of the construction company’s stock after purchasing an additional 5,226 shares during the period. Axa S.A.’s holdings in Hovnanian Enterprises were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Foundry Partners LLC bought a new stake in Hovnanian Enterprises during the 1st quarter worth about $4,259,000. Bank of Montreal Can lifted its position in shares of Hovnanian Enterprises by 72.3% during the second quarter. Bank of Montreal Can now owns 45,363 shares of the construction company’s stock worth $6,438,000 after purchasing an additional 19,031 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Hovnanian Enterprises by 16.1% during the second quarter. American Century Companies Inc. now owns 133,933 shares of the construction company’s stock valued at $19,008,000 after purchasing an additional 18,622 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in Hovnanian Enterprises by 6.1% in the 1st 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 last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hovnanian Enterprises

In other news, CEO Ara K. Hovnanian sold 14,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $153.30, for a total value of $2,146,200.00. Following the transaction, the chief executive officer now directly owns 34,075 shares in the company, valued at approximately $5,223,697.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Edward A. Kangas sold 4,000 shares of the business’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 transaction, the director now owns 14,790 shares in the company, valued at $3,434,385.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ara K. Hovnanian sold 14,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $153.30, for a total transaction of $2,146,200.00. Following the completion of the sale, the chief executive officer now owns 34,075 shares in the company, valued at $5,223,697.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,913 shares of company stock worth $13,958,047. Insiders own 17.67% of the company’s stock.

Analysts Set New Price Targets

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

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $204.25 on Wednesday. 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, Inc. has a 1-year low of $65.22 and a 1-year high of $240.34. The stock has a market capitalization of $1.22 billion, a P/E ratio of 6.81 and a beta of 2.64. The business has a 50-day moving average price of $202.84 and a two-hundred day moving average price of $169.67.

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

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.