Vestcor Inc Purchases 720 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Vestcor Inc lifted its position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,009 shares of the construction company’s stock after purchasing an additional 720 shares during the period. Vestcor Inc’s holdings in Hovnanian Enterprises were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Forager Capital Management LLC increased its stake in Hovnanian Enterprises by 3.5% during the 3rd quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock worth $23,911,000 after acquiring an additional 4,000 shares during the period. Geode Capital Management LLC increased its stake in Hovnanian Enterprises by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 111,942 shares of the construction company’s stock worth $22,882,000 after acquiring an additional 322 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in Hovnanian Enterprises during the 3rd quarter worth $17,449,000. Brightline Capital Management LLC increased its stake in Hovnanian Enterprises by 68.8% during the 3rd quarter. Brightline Capital Management LLC now owns 81,000 shares of the construction company’s stock worth $16,554,000 after acquiring an additional 33,000 shares during the period. Finally, Foundry Partners LLC increased its stake in Hovnanian Enterprises by 53.3% during the 3rd 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. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Trading Up 6.3 %

Shares of HOV stock opened at $107.89 on Monday. The stock’s fifty day moving average price is $123.65 and its two-hundred day moving average price is $161.14. The company has a market cap of $639.27 million, a PE ratio of 3.36 and a beta of 2.85. Hovnanian Enterprises, Inc. has a fifty-two week low of $95.27 and a fifty-two week high of $240.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.87. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The company had revenue of $673.62 million for the quarter, compared to the consensus estimate of $705.80 million.

Wall Street Analysts Forecast Growth

HOV has been the topic of a number of recent research reports. Zelman & Associates restated an “underperform” rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. Wedbush reaffirmed a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th. Finally, StockNews.com downgraded Hovnanian Enterprises from a “hold” rating to a “sell” rating in a report on Friday, March 7th.

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.