Hovnanian Enterprises, Inc. (NYSE:HOV) Holdings Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 9.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,988 shares of the construction company’s stock after selling 198 shares during the period. Farther Finance Advisors LLC’s holdings in Hovnanian Enterprises were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Hovnanian Enterprises by 7.2% during the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company’s stock valued at $319,000 after purchasing an additional 161 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Hovnanian Enterprises by 98.5% during the third quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company’s stock valued at $6,023,000 after purchasing an additional 14,624 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Hovnanian Enterprises during the third quarter valued at about $687,000. Charles Schwab Investment Management Inc. grew its holdings in Hovnanian Enterprises by 92.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after acquiring an additional 23,990 shares during the period. Finally, Forager Capital Management LLC grew its holdings in Hovnanian Enterprises by 3.5% during the third 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. 65.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Hovnanian Enterprises Trading Down 0.5 %

Shares of HOV opened at $109.19 on Wednesday. The business’s 50-day moving average price is $122.95 and its 200 day moving average price is $159.62. The stock has a market capitalization of $646.95 million, a P/E ratio of 3.40 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 1-year low of $95.27 and a 1-year high of $240.34. The company has a current ratio of 1.52, a quick ratio of 0.34 and a debt-to-equity ratio of 0.14.

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

About Hovnanian Enterprises

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.