Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Bought by Foundry Partners LLC

Foundry Partners LLC raised its stake in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 24.3% during the fourth quarter, HoldingsChannel reports. The firm owned 65,623 shares of the construction company’s stock after purchasing an additional 12,814 shares during the quarter. Foundry Partners LLC’s holdings in Hovnanian Enterprises were worth $8,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of HOV. Charles Schwab Investment Management Inc. increased its holdings in Hovnanian Enterprises by 92.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company’s stock worth $10,212,000 after buying an additional 23,990 shares during the period. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 14,624 shares during the period. Barclays PLC boosted its holdings in shares of Hovnanian Enterprises by 352.6% in the 3rd quarter. Barclays PLC now owns 8,274 shares of the construction company’s stock valued at $1,691,000 after acquiring an additional 6,446 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Hovnanian Enterprises in the fourth quarter worth $764,000. Finally, Forager Capital Management LLC raised its holdings in shares of Hovnanian Enterprises by 3.5% during the third quarter. Forager Capital Management LLC now owns 117,000 shares of the construction company’s stock worth $23,911,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Hovnanian Enterprises Stock Down 11.3 %

HOV opened at $94.48 on Friday. The company has a fifty day moving average of $116.66 and a two-hundred day moving average of $152.56. The stock has a market capitalization of $559.79 million, a price-to-earnings ratio of 2.94 and a beta of 2.85. Hovnanian Enterprises, Inc. has a fifty-two week low of $93.91 and a fifty-two week high of $240.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 1.52.

Hovnanian Enterprises (NYSE:HOV) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.87. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%. The company had revenue of $673.62 million during the quarter, compared to analysts’ expectations of $705.80 million.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zelman & Associates reaffirmed an “underperform” rating on shares of Hovnanian Enterprises in a report on Wednesday, February 12th. Wedbush restated a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a research note on Monday, December 16th. Finally, StockNews.com cut Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th.

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.