Hovnanian Enterprises, Inc. (NYSE:HOV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Hovnanian Enterprises, Inc. (NYSE:HOV - Free Report) by 26.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,004 shares of the construction company's stock after selling 8,462 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Hovnanian Enterprises worth $3,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HOV. Metis Global Partners LLC purchased a new position in Hovnanian Enterprises in the third quarter valued at about $248,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Hovnanian Enterprises by 93.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,779 shares of the construction company's stock valued at $1,794,000 after buying an additional 4,246 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Hovnanian Enterprises during the third quarter valued at approximately $345,000. Foundry Partners LLC raised its stake in Hovnanian Enterprises by 53.3% during the third quarter. Foundry Partners LLC now owns 52,809 shares of the construction company's stock valued at $10,793,000 after buying an additional 18,372 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Hovnanian Enterprises by 92.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 49,967 shares of the construction company's stock valued at $10,212,000 after buying an additional 23,990 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

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Hovnanian Enterprises Stock Performance

Shares of Hovnanian Enterprises stock traded down $5.11 on Friday, reaching $106.14. 175,857 shares of the company were exchanged, compared to its average volume of 77,872. 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's 50-day moving average is $122.22 and its two-hundred day moving average is $157.90. The firm has a market cap of $628.87 million, a price-to-earnings ratio of 3.31 and a beta of 2.85. Hovnanian Enterprises, Inc. has a 1-year low of $95.27 and a 1-year high of $240.34.

Hovnanian Enterprises (NYSE:HOV - Get Free Report) last announced 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. The business had revenue of $673.62 million for the quarter, compared to analysts' expectations of $705.80 million. Hovnanian Enterprises had a return on equity of 43.47% and a net margin of 8.05%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HOV shares. Zelman & Associates restated an "underperform" rating on shares of Hovnanian Enterprises in a research note on Wednesday, February 12th. StockNews.com cut Hovnanian Enterprises from a "hold" rating to a "sell" rating in a research note on Tuesday, March 18th. Finally, Wedbush restated a "neutral" rating and set a $155.00 price objective on shares of Hovnanian Enterprises in a research note on Monday, December 16th.

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.