Charles Schwab Investment Management Inc. Increases Stock Position in Hovnanian Enterprises Inc $HOV

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Hovnanian Enterprises Inc. by 20.7%, owning approximately 0.93% of the company, valued at about $5.77 million.
• Hovnanian reported a quarterly earnings miss with an EPS of $1.99, falling short of analyst estimates by $1.52, despite a revenue increase of 10.8% year-over-year.
• Several hedge funds, including Forager Capital Management LLC, have significantly increased their holdings in Hovnanian, indicating strong institutional interest in the company.

Charles Schwab Investment Management Inc. increased its position in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,067 shares of the construction company's stock after purchasing an additional 9,445 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of Hovnanian Enterprises worth $5,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Forager Capital Management LLC increased its holdings in Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock valued at $25,301,000 after acquiring an additional 72,068 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Hovnanian Enterprises by 3,566.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 21,741 shares of the construction company's stock valued at $2,909,000 after acquiring an additional 21,148 shares during the last quarter. First Trust Advisors LP bought a new stake in Hovnanian Enterprises in the 4th quarter valued at $2,772,000. GAMMA Investing LLC increased its holdings in Hovnanian Enterprises by 12,432.3% in the 1st quarter. GAMMA Investing LLC now owns 15,916 shares of the construction company's stock valued at $16,670,000 after acquiring an additional 15,789 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Hovnanian Enterprises by 8.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock valued at $16,224,000 after acquiring an additional 9,407 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Insider Transactions at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of Hovnanian Enterprises stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the transaction, the director directly owned 5,338 shares of the company's stock, valued at approximately $571,806.56. The trade was a 50.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ara K. Hovnanian sold 609 shares of Hovnanian Enterprises stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $138.31, for a total transaction of $84,230.79. Following the sale, the chief executive officer owned 62,896 shares of the company's stock, valued at $8,699,145.76. The trade was a 0.96% decrease in their position. The disclosure for this sale can be found here. 19.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HOV has been the topic of a number of research reports. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Saturday. Wedbush reiterated a "neutral" rating and issued a $120.00 price target on shares of Hovnanian Enterprises in a report on Wednesday, August 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $120.00.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV traded up $0.97 on Monday, reaching $140.24. The company's stock had a trading volume of 76,232 shares, compared to its average volume of 119,539. Hovnanian Enterprises Inc has a 52-week low of $81.15 and a 52-week high of $233.15. The company has a market cap of $830.19 million, a P/E ratio of 6.75 and a beta of 2.12. The company has a 50-day simple moving average of $125.39 and a 200 day simple moving average of $109.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.28 and a current ratio of 1.58.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The construction company reported $1.99 EPS for the quarter, missing analysts' consensus estimates of $3.51 by ($1.52). Hovnanian Enterprises had a return on equity of 23.52% and a net margin of 5.06%.The business had revenue of $800.58 million during the quarter, compared to analysts' expectations of $806.20 million. During the same period in the previous year, the business earned $9.75 earnings per share. The business's quarterly revenue was up 10.8% on a year-over-year basis. Hovnanian Enterprises has set its Q4 2025 guidance at EPS.

Hovnanian Enterprises 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.