Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its position in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,502 shares of the construction company's stock after purchasing an additional 3,657 shares during the quarter. Northern Trust Corp owned about 0.77% of Hovnanian Enterprises worth $6,223,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HOV. Principal Financial Group Inc. lifted its holdings in Hovnanian Enterprises by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 2,383 shares of the construction company's stock valued at $319,000 after acquiring an additional 161 shares during the last quarter. Cerity Partners LLC raised its position in Hovnanian Enterprises by 60.9% in the fourth quarter. Cerity Partners LLC now owns 4,223 shares of the construction company's stock valued at $572,000 after purchasing an additional 1,599 shares during the period. Swiss National Bank lifted its stake in shares of Hovnanian Enterprises by 5.3% in the 4th quarter. Swiss National Bank now owns 9,900 shares of the construction company's stock valued at $1,325,000 after purchasing an additional 500 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Hovnanian Enterprises by 10.0% during the 4th quarter. MetLife Investment Management LLC now owns 2,996 shares of the construction company's stock worth $401,000 after purchasing an additional 272 shares during the period. Finally, Barclays PLC increased its position in shares of Hovnanian Enterprises by 12.5% during the 4th quarter. Barclays PLC now owns 9,306 shares of the construction company's stock worth $1,246,000 after purchasing an additional 1,032 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

Hovnanian Enterprises Trading Up 3.0%

Shares of NYSE HOV traded up $2.63 during trading on Friday, reaching $90.52. The stock had a trading volume of 74,239 shares, compared to its average volume of 80,781. 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 cap of $536.34 million, a P/E ratio of 2.82 and a beta of 2.28. Hovnanian Enterprises, Inc. has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The business's 50-day moving average price is $99.95 and its 200-day moving average price is $126.25.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last posted 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). 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 during the quarter, compared to analyst estimates of $733.20 million. The firm's quarterly revenue was down 3.1% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research analysts have commented on HOV shares. Wedbush reaffirmed a "neutral" rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th.

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.