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Teacher Retirement System of Texas Lowers Position in Hovnanian Enterprises Inc (NYSE:HOV)

Hovnanian Enterprises logo with Construction background

Teacher Retirement System of Texas lowered its holdings in Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 12,871 shares of the construction company's stock after selling 5,083 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.22% of Hovnanian Enterprises worth $1,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Hovnanian Enterprises during the fourth quarter valued at $25,000. Creative Financial Designs Inc. ADV purchased a new position in Hovnanian Enterprises during the first quarter valued at $80,000. Harbor Capital Advisors Inc. raised its stake in Hovnanian Enterprises by 1,655.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,018 shares of the construction company's stock valued at $107,000 after buying an additional 960 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Hovnanian Enterprises during the fourth quarter valued at $120,000. Finally, Brevan Howard Capital Management LP purchased a new position in Hovnanian Enterprises during the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

Hovnanian Enterprises Stock Down 1.7%

Shares of Hovnanian Enterprises stock traded down $2.11 on Friday, reaching $119.73. The company's stock had a trading volume of 183,580 shares, compared to its average volume of 95,810. The company has a market capitalization of $708.81 million, a price-to-earnings ratio of 4.19 and a beta of 2.13. The firm's fifty day simple moving average is $101.68 and its two-hundred day simple moving average is $110.32. Hovnanian Enterprises Inc has a 52 week low of $81.15 and a 52 week high of $240.34. The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings data 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 33.18% and a net margin of 7.03%. The firm had revenue of $686.47 million during the quarter, compared to the consensus estimate of $733.20 million. The firm's quarterly revenue was down 3.1% compared to the same quarter last year.

Insider Activity at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of Hovnanian Enterprises stock in a transaction on Monday, June 30th. The stock was sold at an average price of $107.12, for a total value of $589,160.00. Following the completion of the sale, the director owned 5,338 shares of the company's stock, valued at $571,806.56. The trade was a 50.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.77% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen lowered Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Wedbush reissued a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a report on Wednesday, June 11th.

Read Our Latest Report on HOV

Hovnanian Enterprises Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hovnanian Enterprises (NYSE:HOV)

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