Hovnanian Enterprises Inc (NYSE:HOV) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in shares of Hovnanian Enterprises Inc (NYSE:HOV - Free Report) by 28.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,871 shares of the construction company's stock after selling 5,083 shares during the period. Teacher Retirement System of Texas owned 0.22% of Hovnanian Enterprises worth $1,348,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hovnanian Enterprises by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,860 shares of the construction company's stock worth $1,186,000 after purchasing an additional 81 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hovnanian Enterprises by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,823 shares of the construction company's stock worth $378,000 after acquiring an additional 117 shares during the period. California State Teachers Retirement System grew its position in Hovnanian Enterprises by 4.0% in the fourth quarter. California State Teachers Retirement System now owns 4,724 shares of the construction company's stock worth $632,000 after acquiring an additional 182 shares during the period. Quantbot Technologies LP purchased a new position in Hovnanian Enterprises in the fourth quarter worth approximately $25,000. Finally, Peapack Gladstone Financial Corp grew its position in Hovnanian Enterprises by 1.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 10,863 shares of the construction company's stock worth $1,454,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 65.40% of the company's stock.

Hovnanian Enterprises Trading Up 0.7%

Shares of NYSE:HOV traded up $0.76 during midday trading on Wednesday, reaching $108.71. 150,932 shares of the company's stock were exchanged, compared to its average volume of 97,869. The firm's 50 day simple moving average is $102.17 and its two-hundred day simple moving average is $110.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.28. The stock has a market cap of $643.55 million, a price-to-earnings ratio of 3.81 and a beta of 2.13. Hovnanian Enterprises Inc has a fifty-two week low of $81.15 and a fifty-two week high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($0.02). The business had revenue of $686.47 million for the quarter, compared to analysts' expectations of $733.20 million. Hovnanian Enterprises had a return on equity of 33.18% and a net margin of 7.03%. The company's revenue was down 3.1% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HOV shares. Wedbush reissued a "neutral" rating and set a $120.00 price objective on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Insider Transactions at Hovnanian Enterprises

In other Hovnanian Enterprises news, Director Edward A. Kangas sold 5,500 shares of the business's 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 sale, the director directly owned 5,338 shares in the company, valued at $571,806.56. This represents a 50.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.77% of the stock is owned by company insiders.

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.