Hovnanian Enterprises Inc $HOV Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in Hovnanian Enterprises Inc (NYSE:HOV) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,063 shares of the construction company’s stock after purchasing an additional 7,353 shares during the quarter. Pacer Advisors Inc.’s holdings in Hovnanian Enterprises were worth $4,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HOV. Penn Capital Management Company LLC acquired a new stake in shares of Hovnanian Enterprises in the 3rd quarter worth $683,000. Mutual Advisors LLC boosted its position in shares of Hovnanian Enterprises by 98.8% during the 4th quarter. Mutual Advisors LLC now owns 11,448 shares of the construction company’s stock valued at $1,117,000 after acquiring an additional 5,690 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Hovnanian Enterprises by 150.0% in the fourth quarter. Jennison Associates LLC now owns 12,950 shares of the construction company’s stock valued at $1,263,000 after purchasing an additional 7,770 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Hovnanian Enterprises in the fourth quarter valued at about $117,000. Finally, Strs Ohio increased its position in Hovnanian Enterprises by 46.2% during the fourth quarter. Strs Ohio now owns 5,700 shares of the construction company’s stock worth $556,000 after purchasing an additional 1,800 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HOV has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Hovnanian Enterprises from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Hovnanian Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Citizens Jmp initiated coverage on shares of Hovnanian Enterprises in a report on Thursday, April 9th. They set a “market underperform” rating and a $74.00 price target for the company. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $97.00.

Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock opened at $125.03 on Tuesday. The firm has a market cap of $732.67 million, a PE ratio of 34.35 and a beta of 1.84. The company has a quick ratio of 0.40, a current ratio of 1.50 and a debt-to-equity ratio of 0.05. Hovnanian Enterprises Inc has a 52 week low of $91.52 and a 52 week high of $162.05. The business’s fifty day simple moving average is $111.97 and its 200-day simple moving average is $112.77.

Hovnanian Enterprises (NYSE:HOV) last issued its quarterly earnings data 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 firm had revenue of $667.65 million during the quarter, compared to the consensus estimate of $626.40 million. Hovnanian Enterprises had a return on equity of 11.23% and a net margin of 1.25%.

Hovnanian Enterprises Profile

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.