Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,217 shares of the construction company's stock after selling 8,759 shares during the quarter. Ameriprise Financial Inc.'s holdings in Hovnanian Enterprises were worth $297,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Hovnanian Enterprises by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock worth $24,210,000 after purchasing an additional 602 shares during the period. Foundry Partners LLC boosted its position in shares of Hovnanian Enterprises by 24.3% during the 4th quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after purchasing an additional 12,814 shares during the period. Northern Trust Corp grew its holdings in shares of Hovnanian Enterprises by 8.5% in the fourth quarter. Northern Trust Corp now owns 46,502 shares of the construction company's stock valued at $6,223,000 after purchasing an additional 3,657 shares in the last quarter. Empowered Funds LLC increased its stake in Hovnanian Enterprises by 5.0% during the 4th quarter. Empowered Funds LLC now owns 30,667 shares of the construction company's stock worth $4,104,000 after buying an additional 1,461 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Hovnanian Enterprises during the 4th quarter worth approximately $2,772,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HOV shares. Zelman & Associates reissued an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. Wall Street Zen cut shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Wedbush reissued a "neutral" rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a research report on Tuesday, May 20th.

Hovnanian Enterprises Stock Up 4.4%

NYSE HOV traded up $4.15 on Monday, hitting $98.16. 142,459 shares of the stock were exchanged, compared to its average volume of 80,222. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The company has a market cap of $581.60 million, a PE ratio of 3.06 and a beta of 2.14. The company has a 50-day moving average price of $96.78 and a 200-day moving average price of $120.07.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.02). Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The firm had revenue of $686.47 million for the quarter, compared to analyst estimates of $733.20 million. The company's revenue was down 3.1% on a year-over-year basis.

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.