Towle & Co. Decreases Holdings in Hovnanian Enterprises Inc $HOV

Towle & Co. reduced its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,721 shares of the construction company’s stock after selling 3,983 shares during the period. Hovnanian Enterprises makes up about 2.1% of Towle & Co.’s investment portfolio, making the stock its 23rd biggest holding. Towle & Co.’s holdings in Hovnanian Enterprises were worth $8,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in shares of Hovnanian Enterprises by 4.1% in the third quarter. GSA Capital Partners LLP now owns 11,106 shares of the construction company’s stock worth $1,427,000 after buying an additional 438 shares during the period. JPMorgan Chase & Co. lifted its position in Hovnanian Enterprises by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,283 shares of the construction company’s stock worth $1,193,000 after acquiring an additional 144 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Hovnanian Enterprises by 82.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 10,844 shares of the construction company’s stock worth $1,393,000 after acquiring an additional 4,906 shares in the last quarter. Mutual Advisors LLC boosted its holdings in Hovnanian Enterprises by 54.2% in the 3rd quarter. Mutual Advisors LLC now owns 5,758 shares of the construction company’s stock worth $763,000 after acquiring an additional 2,023 shares during the period. Finally, AlphaQuest LLC grew its position in Hovnanian Enterprises by 171.8% in the third quarter. AlphaQuest LLC now owns 3,237 shares of the construction company’s stock valued at $416,000 after acquiring an additional 2,046 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of HOV stock opened at $129.45 on Friday. The firm has a fifty day moving average of $114.73 and a two-hundred day moving average of $125.31. The firm has a market cap of $770.25 million, a P/E ratio of 17.28 and a beta of 2.31. Hovnanian Enterprises Inc has a 1-year low of $81.15 and a 1-year high of $162.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 0.40.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings results on Thursday, December 4th. The construction company reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.63 by ($1.14). The company had revenue of $817.90 million for the quarter, compared to the consensus estimate of $814.50 million. Hovnanian Enterprises had a return on equity of 15.33% and a net margin of 2.14%.The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $13.84 EPS.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HOV. Wall Street Zen cut shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Zacks Research raised shares of Hovnanian Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hovnanian Enterprises in a report on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.00.

Hovnanian Enterprises Profile

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.