First Trust Advisors LP Makes New $2.77 Million Investment in Hovnanian Enterprises, Inc. (NYSE:HOV)

First Trust Advisors LP bought a new position in shares of Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,715 shares of the construction company's stock, valued at approximately $2,772,000. First Trust Advisors LP owned about 0.34% of Hovnanian Enterprises at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Hovnanian Enterprises by 98.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,472 shares of the construction company's stock valued at $6,023,000 after buying an additional 14,624 shares in the last quarter. Foundry Partners LLC increased its position in shares of Hovnanian Enterprises by 24.3% during the fourth quarter. Foundry Partners LLC now owns 65,623 shares of the construction company's stock worth $8,782,000 after acquiring an additional 12,814 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Hovnanian Enterprises during the fourth quarter valued at approximately $883,000. Barclays PLC boosted its holdings in shares of Hovnanian Enterprises by 352.6% in the third quarter. Barclays PLC now owns 8,274 shares of the construction company's stock valued at $1,691,000 after purchasing an additional 6,446 shares during the period. Finally, Range Financial Group LLC bought a new position in Hovnanian Enterprises in the fourth quarter worth approximately $764,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Hovnanian Enterprises Stock Performance

Shares of NYSE:HOV opened at $103.16 on Monday. The firm has a 50 day moving average of $100.80 and a 200 day moving average of $134.57. The company has a quick ratio of 0.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $611.21 million, a price-to-earnings ratio of 3.21 and a beta of 2.43. 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 released its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 EPS for the quarter, topping the consensus estimate of $2.71 by $0.87. The firm had revenue of $673.62 million during the quarter, compared to analyst estimates of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HOV. Zelman & Associates reaffirmed an "underperform" rating on shares of Hovnanian Enterprises in a research report on Wednesday, February 12th. StockNews.com downgraded Hovnanian Enterprises from a "hold" rating to a "sell" rating in a report on Tuesday, March 18th.

Hovnanian Enterprises Company 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.

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