Lazard Asset Management LLC Sells 6,050 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Lazard Asset Management LLC cut its stake in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 61.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,774 shares of the construction company's stock after selling 6,050 shares during the period. Lazard Asset Management LLC owned 0.06% of Hovnanian Enterprises worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HOV. Forager Capital Management LLC raised its position in shares of Hovnanian Enterprises by 61.6% in the 4th quarter. Forager Capital Management LLC now owns 189,068 shares of the construction company's stock worth $25,301,000 after acquiring an additional 72,068 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hovnanian Enterprises by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 180,913 shares of the construction company's stock valued at $24,210,000 after purchasing an additional 602 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Hovnanian Enterprises by 8.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 121,239 shares of the construction company's stock worth $16,224,000 after purchasing an additional 9,407 shares during the period. Bridgeway Capital Management LLC raised its holdings in Hovnanian Enterprises by 1.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 85,956 shares of the construction company's stock worth $11,503,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in Hovnanian Enterprises by 24.3% during the fourth quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock valued at $8,782,000 after buying an additional 12,814 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hovnanian Enterprises Stock Up 3.6%

Shares of HOV traded up $3.30 during mid-day trading on Tuesday, reaching $94.21. The company had a trading volume of 13,183 shares, compared to its average volume of 80,520. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52. The company has a market capitalization of $558.16 million, a price-to-earnings ratio of 2.93 and a beta of 2.28. The firm has a 50-day moving average price of $99.53 and a 200 day moving average price of $125.60. Hovnanian Enterprises, Inc. has a 52 week low of $81.15 and a 52 week high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced its quarterly earnings data 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). Hovnanian Enterprises had a net margin of 8.05% and a return on equity of 43.47%. The company had revenue of $686.47 million for the quarter, compared to analysts' expectations of $733.20 million. The company's revenue for the quarter was down 3.1% compared to the same quarter last year.

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.