Hovnanian Enterprises (NYSE:HOV) Director J Larry Sorsby Sells 1,032 Shares of Stock

Hovnanian Enterprises Inc (NYSE:HOV) Director J Larry Sorsby sold 1,032 shares of Hovnanian Enterprises stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $142.57, for a total value of $147,132.24. Following the transaction, the director owned 187,416 shares in the company, valued at approximately $26,719,899.12. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hovnanian Enterprises Trading Up 4.0%

NYSE HOV opened at $147.56 on Friday. Hovnanian Enterprises Inc has a one year low of $91.52 and a one year high of $162.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.50 and a quick ratio of 0.40. The firm has a market cap of $864.67 million, a P/E ratio of 40.54 and a beta of 1.84. The stock’s 50-day moving average is $114.54 and its 200-day moving average is $113.50.

Hovnanian Enterprises (NYSE:HOV) last posted its earnings results on Thursday, May 21st. The construction company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $1.58. The business had revenue of $667.65 million during the quarter, compared to analysts’ expectations of $626.40 million. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.

Analyst Ratings Changes

HOV has been the subject of a number of research analyst reports. Citizens Jmp began coverage on shares of Hovnanian Enterprises in a research note on Thursday, April 9th. They issued a “market underperform” rating and a $74.00 target price for the company. Weiss Ratings lowered Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised Hovnanian Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $97.00.

Hedge Funds Weigh In On Hovnanian Enterprises

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Hovnanian Enterprises by 8.6% during the fourth quarter. State Street Corp now owns 228,613 shares of the construction company’s stock valued at $22,299,000 after purchasing an additional 18,086 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hovnanian Enterprises by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 175,186 shares of the construction company’s stock worth $17,089,000 after purchasing an additional 3,514 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Hovnanian Enterprises by 7.6% during the 4th quarter. GW&K Investment Management LLC now owns 121,488 shares of the construction company’s stock worth $11,850,000 after purchasing an additional 8,571 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hovnanian Enterprises by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 111,600 shares of the construction company’s stock worth $10,888,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Towle & Co. boosted its holdings in shares of Hovnanian Enterprises by 51.2% in the 4th quarter. Towle & Co. now owns 99,402 shares of the construction company’s stock valued at $9,696,000 after buying an additional 33,681 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc is a publicly traded homebuilding company primarily engaged in the acquisition, development and construction of residential properties. Headquartered in Red Bank, New Jersey, the company operates through a network of regional homebuilding divisions that design and deliver a range of housing solutions, including single-family detached homes, townhomes and condominiums. Hovnanian combines land development, architectural design and construction services with in-house mortgage and insurance offerings to provide a comprehensive homebuying experience.

The company markets its communities under several branded product lines tailored to different buyer segments and price points.