Hovnanian Enterprises Inc (HOV) Position Increased by Vanguard Group Inc.
Vanguard Group Inc. increased its position in shares of Hovnanian Enterprises Inc (NYSE:HOV) by 21.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,399,420 shares of the construction company’s stock after buying an additional 953,607 shares during the period. Vanguard Group Inc. owned approximately 3.66% of Hovnanian Enterprises worth $12,257,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Nine Chapters Capital Management LLC bought a new stake in shares of Hovnanian Enterprises during the first quarter worth about $127,000. Brandes Investment Partners LP raised its stake in shares of Hovnanian Enterprises by 20.2% in the first quarter. Brandes Investment Partners LP now owns 56,630 shares of the construction company’s stock worth $129,000 after buying an additional 9,520 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Hovnanian Enterprises by 83.3% in the first quarter. UBS Asset Management Americas Inc. now owns 59,193 shares of the construction company’s stock worth $134,000 after buying an additional 26,897 shares during the period. SG Americas Securities LLC raised its stake in shares of Hovnanian Enterprises by 346.1% in the first quarter. SG Americas Securities LLC now owns 60,473 shares of the construction company’s stock worth $137,000 after buying an additional 46,917 shares during the period. Finally, American International Group Inc. raised its stake in shares of Hovnanian Enterprises by 7.1% in the first quarter. American International Group Inc. now owns 75,060 shares of the construction company’s stock worth $170,000 after buying an additional 4,972 shares during the period. Institutional investors and hedge funds own 31.04% of the company’s stock.
Shares of Hovnanian Enterprises Inc (HOV) traded up 3.45% during midday trading on Wednesday, hitting $1.80. 575,020 shares of the company were exchanged. The stock has a market cap of $265.26 million, a PE ratio of 18.00 and a beta of 1.69. The stock’s 50-day moving average is $2.31 and its 200-day moving average is $2.35. Hovnanian Enterprises Inc has a one year low of $1.52 and a one year high of $2.98.
Hovnanian Enterprises (NYSE:HOV) last announced its earnings results on Friday, June 2nd. The construction company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $585.90 million during the quarter, compared to the consensus estimate of $558.55 million. Hovnanian Enterprises had a net margin of 0.56% and a negative return on equity of 8.20%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Equities research analysts anticipate that Hovnanian Enterprises Inc will post $0.05 EPS for the current year.
Separately, BidaskClub lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.
Hovnanian Enterprises Company Profile
Hovnanian Enterprises, Inc is a builder of residential homes. The Company designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, urban infill and active lifestyle homes in planned residential developments. The Company has two distinct operations: homebuilding and financial services.
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